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LatinNews Daily - 4 February 2025

In brief: Chile’s economic activity continues to grow

*Chile’s central bank (BCCh) has released its latest monthly index of economic activity (Imacec), a key measure used to anticipate GDP figures, revealing a 6.6% year-on-year increase in economic activity for December, marking the third consecutive month of growth and the biggest annual increase since January 2022. In seasonally adjusted terms, the Imacec rose by 0.9% from the previous month and expanded 4.3% over the past 12 months. The surge in economic activity was driven by growth across all sectors, particularly in fruit cultivation and mining. The production of goods rose 13.3% year-on-year, largely due to increases in mining (+15.1%), manufacturing (+10.1%) and other goods (+12.2%), while trade registered a 10.6% annual increase, and the services sector grew by 2% year-on-year. President Gabriel Boric welcomed the results, stating this brought GDP growth last year to 2.5%. He used the opportunity to respond to criticism from Evelyn Matthei, the likely presidential candidate for the right-wing opposition coalition Chile Vamos, whom he said had recently stated the Chilean economy was not growing. “It appears they want the country to do badly,” wrote Boric on social media, adding that there was still more to do “but we are moving in the right direction”.

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