The Chilean Central Bank announced that the performance of the country’s economy increased by 1.1 percent in May 2024 from May 2023, as measured by the Imacec index.
According to the Chilean Central Bank, mining activities increased by 7.6 percent and added 1.0 points (pp) to the index, followed by services (0.8 percent and 0.5 pp), other goods produced (3.7 percent and 0.4 pp), manufacturing industry (-1.4 percent and -0.1 pp), and trading activities (-2.0 percent and -0.2 pp).
Under the same comparative basis, the collection of taxes on the production activities declined by 3.4 percent.
When considering the evolution from April to May, the IMACEC index declined by 0.4 percent, while considering the 12-month period ended in May, the IMACEC index increased by 2.0 percent on yearly basis.
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.
