The Chilean Central Bank announced that the performance of the country’s economy increased by 0.8 percent in March 2024 from March 2023, as measured by the Imacec index.
According to the Chilean Central Bank, the increase on yearly basis reflects improvements in almost all main sectors of the economy, headed by mining activities, but declining when considering trading activities and the industrial production.
Excluding mining activities, the Imacec index declined by 0.4 percent on yearly basis in March 2024.
When considering the 0.8 percent Imacec increase from February to March 2024, mining activities had a positive impact of 1.0 percentage points (pp), other goods 0.4 pp, and services 0.3 pp, while the negative impacts came from taxes (0.1 pp), industrial activities (0.3 pp) and trading activities (0.5 pp).
The monthly index of economic activity (Imacec) is an estimate that measures the activity of different sectors of Chile’s economy, in a given month, measured at prices of the previous year. It is considered as a proxy of the country’s gross domestic product (GDP) evolution.
