Chile’s GDP grows by 5.1%
The Central Bank announced that Chile's GDP (Gross Domestic Product) increased by 5.1% in the second quarter when compared with the same period of last year. Strong global demand and high prices for Chile's main export goods have been driving the economy to its fastest annual rate of expansion in the last seven years. The Central Bank held interest rates at a very low level of 1.75% all year in order to actuate business investment and consumer spending in Chile. Thus, regressive internal demand would be able to catch up with the export boom. The jobless rate, which increased to 9.6% in the second quarter, was the only negative indicator of the economy.