Chile's economy grows in November for first time since onset of pandemic


SANTIAGO, Jan. 4 (Xinhua) -- Economic activity in Chile rose by 0.3 percent in November 2020 compared to the same month in 2019, marking the first increase since the novel coronavirus pandemic broke out here in March, the Central Bank of Chile said on Monday.

According to the bank's preliminary figures, the Monthly Index of Economic Activity (Imacec) increased 1.1 percent compared to the previous month, driven mainly by trade.

Trade registered an annual increase of 15.3 percent in November, partially offset by a 12-month fall in the services sector, which dipped 2.3 percent, and in the production of goods, which decreased 1.3 percent.

These drops were due to the impact of the novel coronavirus (COVID-19) disease, primarily the lockdown measures imposed to control the spread of the virus, said the bank.

The Minister of Finance, Ignacio Briones, said in a radio interview the figures showed the Chilean economy "is going from less to more, with an upward trend," in line with the government's 2020 fourth quarter projections.

The bank has forecast 5.5 to 6.5 percent growth in the Gross Domestic Product (GDP) in 2021, following a significant contraction in 2020 due to the pandemic.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In World

N.Korean leader's sister warns Seoul against military drill with Washington
Anger over Tunisia's pandemic failures fuels political crisis
Mexico holds referendum on whether to probe ex-presidents
Hackers shut down system for booking COVID-19 shots in Italy's Lazio region
Myanmar military leader takes new title of prime minister in caretaker government - state media
Rescuers pull 394 migrants from dangerously overcrowded boat off Tunisia
Some wildfires rage on in Turkey, affecting coastal resorts
New Zealand's PM Ardern apologises for 1970s immigration raids on Pacific community
Cambodia to mix vaccines as booster shots to fight COVID
Syria's Assad asks PM Arnous to form new cabinet

Stories You'll Enjoy


Vouchers