The Chilean central bank announced that economic performance in the country has increased by 1.0 percent in July compared to the same month in 2021, as measured by the Imacec index.
The result is in line with expectations by analysts of an increase of up to 1.5 percent, although it is the lowest figure since February 2021, when a 2.2 percent decline was achieved on yearly basis.
The result also confirms the deceleration of the country’s economy, as it is the lower increase when compared to February (6.8 percent), March (6.4 percent), April (6.9 percent) and June (3.7 percent).
According to the Chilean central bank, the variation of the Imacec index reflects increased activities for services, while commercial and mining activities have declined. Excluding mining activities, an important sector of the Chilean economy, the Imacec index would have increased by 2.1 percent on yearly basis.