Central Bank of Chile publishes November 2025 Imacec showing 1.2% annual growth and a 0.6% seasonally adjusted monthly fall

The Central Bank of Chile released preliminary results for the Monthly Economic Activity Index (Imacec) for November 2025, showing a 1.2% increase versus the same month a year earlier, alongside a 0.6% decline in the seasonally adjusted series compared with the prior month. The annual result reflected gains in services and trade, partly offset by weaker mining and other goods output, with November 2025 having the same number of working days as November 2024. Non-mining Imacec rose 1.7% year on year and fell 0.5% month on month in seasonally adjusted terms. Goods production declined 1.3% annually, driven by lower mining output due to reduced copper extraction and a fall in other goods linked to lower electric power generation, while manufacturing increased 0.3% as higher fuel refining offset weaker beverage production; seasonally adjusted goods output fell 0.7% on the month, mainly due to mining. Trade expanded 5.5% year on year, with strength across all components led by automotive sales, while retail gains included department stores, specialized clothing shops and online platforms and wholesale growth was supported by machinery and equipment; seasonally adjusted trade increased 0.3% month on month. Services grew 1.9% annually, supported by personal services (notably health care) despite a decline in transportation services, while the seasonally adjusted services series fell 0.6% on the month due to entrepreneurial services and transportation.