Chile’s economy began in 2021 on the right foot. On Monday, the Central Bank reported that the Monthly Index of Economic Activity (Imacec), which, in November 2020, recorded growth of 0.3%.
This rise is in line with analyst forecasts, who had nevertheless forecast 1% growth in chile’s economy by October.
In this report he highlighted the growth experienced by the trade sector, offset in part by the fall in services and the production of goods. “The latter were impacted by the effects of the health emergency associated with Covid-19, which influenced people’s mobility and the normal functioning of production facilities.”
“The growth of 15.3% of commercial activity was driven by all its components, with retail being the most dynamic and impactful,” says the Central Bank report.
The decline in mining also influenced the figure, while manufacturing grew 1.6%.
“The latter were impacted by the effects of the health emergency associated with covid-19, which influenced people’s mobility and the normal functioning of production facilities,” the issuing body said.
Although growth was lower than expected, the news was well received by The Minister of Finance, Ignacio Briones, especially considering that it is the first positive record after eight months of falls, driven by the health crisis resulting from the covid-19 pandemic.
“It’s good news, even if it’s small, we had advanced that the fourth quarter would only see blue figures,” Briones in Cooperative said.
“Along with noting that it’s positive and good for the mood, I think it’s also important to keep in mind that the figure realizes what’s ahead of us too, that we have a huge challenge,” he said.
“It’s not to be jumping. This is a positive but slightly positive figure, which has a comparison basis from the previous year that was bad. Let’s remember that last year, October and November, we had Imacec crashes, so it’s on the right line in what we’ve seen the last few months,” added the head of the tax wallet.
Despite noting that there is a significant recovery in employment, he considered that “we have a big challenge ahead of us.”
