The Chilean economy grew by 10.1% in December: Central Bank

The Chilean economy grew by 10.1% in December compared to the same month of 2020, within market forecasts, the Central Bank reported on Tuesday in its Monthly Index of Economic Activity (Imacec).

Meanwhile, the seasonally adjusted range of the indicator fell by 0.4% compared to November and 10.2% in twelve months, according to a statement.

“All the components of the Imacec have grown compared to the same period of the previous year,” the banking entity said of the indicator, enabling GDP forecasting.

The contributions of the service sector and “to a lesser extent, of trade” stood out according to the statement.

Commodity production increased by 3.3%, commercial activity by 14.8% and services by 12.6%.

The result is consistent with Chile’s economic recovery “Due to the greater openness of the economy, the support measures for households and the partial withdrawals of pension funds,” the Central Bank added.

Also for a relief from the pandemic in the country thanks to health checks and a successful vaccination campaign.

Estimates suggest that 2021 GDP will close at around 12.2%, although the Central Bank has indicated that the indicator will be published on 18 March.

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