The Chilean Central Bank announced that the performance of the country’s economy increased by 4.2 percent in July 2024 from July 2023, as measured by the IMACEC index.
The consensus of analysts was a 2.7 percent growth.
The production of goods increased by 3.4 percent, positively affected by the manufacturing industry increasing by 7.8 percent and mining activities increasing by 3.6 percent, while the production of other goods increased by 0.9 percent.
Trading activities increased by 4.9 percent, boosted by all sectors, chiefly wholesale trading, machinery and equipment, and domestic appliances.
Meanwhile, the services account increased by 5.3 percent, reflecting chiefly the good performance of personal services including education and transportation services.
In the comparison of July and June of 2024, the IMACEC index increased by 1.0 percent, the production of goods increased by 0.7 percent, trading activities declined by 1.8 percent, and services increased by 1.6 percent.
The monthly index of economic activity (IMACEC) is considered as a proxy of the country’s gross domestic product (GDP) evolution.