Chilean retail sales grow 6.2%
The National Chamber of Commerce said that Chilean retail sales rose 6.2% in December 2004 from a year earlier. In 2004, the growth rate in sales reached 4.6% as lower unemployment rates boosted consumer spending. Retail sales are expected to grow by 5% this year. The recovery in employment and the reduction in unemployment rate helped retail sales report a specific performance. Separately, Chile's economy is expected to grow 5.8% in 2004. This will be the highest economic growth in the last seven years due to high copper prices and strong demand for other export products.