Retail sales in Chile slumped 9.8 percent year-on-year in November 2019, following a downwardly revised 11.9 percent tumble in the previous month. It was the third consecutive month of downturn in retail activity, though at a softer pace. Sales decreased less mainly for new light motor vehicles (-31.9 percent vs -39.3 percent in October) and clothing, footwear & accessories (-14.6 percent vs -21 percent), but fell more for electronic products (-9.2 percent vs -8.8 percent). Year-to-date, retail sales went down 1.6 percent over a year ago. On a monthly basis, retail trade increased 0.2 percent, after a downwardly revised 5 percent decline in the prior month. Retail Sales YoY in Chile averaged 6.10 percent from 2006 until 2019, reaching an all time high of 23.80 percent in April of 2010 and a record low of -12.10 percent in October of 2019. source: National Institute of Statistics, Chile
Retail Sales YoY in Chile is expected to be 1.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Chile to stand at 3.70 in 12 months time. In the long-term, the Chile Retail Sales YoY is projected to trend around 3.90 percent in 2020, according to our econometric models.