RIO DE JANEIRO, BRAZIL – The Chilean economy registered a growth of 15% in October, the highest number for that month in 35 years, according to the Monthly Index of Economic Activity (Imacec) published by the Central Bank.
“All the components of Imacec grew compared to the same period of the previous year, highlighting the contribution of service activities and, to a lesser extent, trade and the production of goods,” explains the disclosed text.
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The report attributes the result to a “greater opening of the economy, the support measures in the homes and the partial withdrawals of the pension funds,” with the Emergency Family Income (IFE) bonds issued by the government.
The seasonally adjusted series increased 0.8% compared to the previous month and 14.3% in twelve months.
This was explained by “the performance of the production of goods, particularly mining, an effect that was partially offset by the fall in services.” The Central Bank reported that the 4.7% increase in the production of goods was influenced by the other goods items, which grew 9.1%, associated with the performance of construction.
Meanwhile, commerce showed growth of 17.7%, driven by retail sales of clothing, footwear, and household equipment, and wholesale sales of household goods.
Finally, services grew 19.6% due to the performance of personal services, particularly education and health, while to a lesser extent, business services, restaurants, hotels, and transportation also contributed to the data.