LatinNews Daily - 04 April 2022

* Chile’s central bank (BCCh) has released new figures showing that the monthly index of economic activity (Imacec), which serves as a proxy for GDP, grew by 6.8% year-on-year in February. However, in monthly terms the Imacec was down 0.7% compared to January. The monthly contraction was due to a 1.2% decline in the services sector, a 1.1% decline in industry, a 0.5% decline in trade, and a 0.2% decline in mining. In year-on-year terms, services were up by 14.6% and trade by 5.5%, while mining was down 6.4% and industry by 2.6%. On 30 March the BCCh lowered its growth forecast for 2022 to 1%-2%, down from its December estimate of 1.5%-2.5%.

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