Chile GDP Growth Slows to 4.1% YoY in Q2


In the second quarter of 2013, Chilean economy expanded 4.1 percent over the previous year, the slowest expansion in seven quarters, as the recovery in manufacturing and agriculture was not enough to offset a contraction in fishing, restaurants and hotels’ activities.

On the production side, manufacturing production went up by 1 percent yoy, recovering from a 0.3 percent contraction in the previous quarter. Agriculture increased 4.3 percent, from 2.9 percent in the first three months of 2013. Mining growth eased to 4.5 percent yoy, from 7.8 percent in the previous quarter, mainly due to a slowdown in copper production (4.7 percent from 8.6 percent). 

On the expenditure side, while private consumption growth eased to 4.5 percent yoy from 7.2 percent in the previous quarter, government consumption increased 3.6 percent, from 1.9 percent in the first quarter. Exports expanded 7.2 percent, recovering from a 0.3 percent contraction in the previous quarter. Imports increased 8.4 percent yoy. Gross fixed capital formation slowed to 9.3 percent from 9.5 percent in the first quarter. 

On a quarter-on-quarter basis, the GDP growth eased to 0.5 percent, from 0.8 percent in the preceding three-month period.

Chile GDP Growth Slows to 4.1% YoY in Q2


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8/19/2013 2:39:37 PM