The Chilean Central Bank announced that the performance of the country’s economy declined by 0.5 percent in February 2023 from the same month in 2022, while from the previous month the decline was 0.3 percent, as measured by the Imacec index.
According to the Chilean Central Bank, on yearly basis, the tax on products had a negative impact on the Imacec index of 0.7 percentage points (p.p.), while commercial activities had a negative impact of 0.4 p.p., non-industrial products had a negative impact of 0.2 p.p. and mining activities had a negative impact of 0.1 p.p. while industrial activities had a neutral impact and the performance of services, reflecting chiefly personal services, had a positive impact of 0.8 p.p.
The figures unveiled by the Chilean Central Bank indicate that, if services are excluded, the Imacec index, which reflects the performance of the Chilean economy, would have declined by 1.3 percent in February 2023 from the same month in 2022.