The Central Bank of Chile released preliminary results for Chile’s January Monthly Economic Activity Indicator (Imacec), reporting 2.5% growth versus the same month a year earlier. On a seasonally adjusted basis, activity rose 0.4% from the previous month and was up 2.3% over 12 months, with the headline result mainly driven by trade and manufacturing; in seasonally adjusted terms, services also contributed. Non-mining Imacec increased 2.9% year on year, while its seasonally adjusted index rose 1.4% from the previous month. By sector, goods production grew 2.3% annually, supported by manufacturing (notably food processing) and other goods, while mining declined due to lower copper ore extraction; seasonally adjusted goods production fell 2.0% month on month. Trade expanded 8.4% annually, led by wholesale and retail activity (including food sales and fruit exports, supermarket and apparel sales, and motor vehicle sales), and increased 3.4% month on month on a seasonally adjusted basis. Services grew 1.0% year on year and 1.0% month on month seasonally adjusted, with growth attributed to personal services, transportation, and entrepreneurial and personal services. The Central Bank indicated that the 2024 GDP estimate and revisions for 2022 and 2023 will be published on March 18, and that the Imacec series will be revised to align with the new national accounts figures.
Central Bank of Chile 2025-03-03
Central Bank of Chile publishes preliminary January Imacec showing 2.5% annual growth led by trade and manufacturing
The Central Bank of Chile reported a 2.5% year-on-year growth in January's Monthly Economic Activity Indicator (Imacec), driven by trade and manufacturing, with a 0.4% increase from the previous month. Non-mining Imacec rose 2.9% annually, while goods production grew 2.3% despite a decline in mining. The bank will publish the 2024 GDP estimate and revisions for 2022 and 2023 on March 18, alongside updates to the Imacec series.