LatinNews Daily - 02 February 2023

*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, dropped by 1.0% in December 2022 compared to the same month of 2021. In monthly terms, the Imacec was up 0.4% compared to November. BCCh attributed the yearly Imacec results to a drop in trade (-6.4%) and industrial manufacturing (-5.0%) although it notes that this was compensated by a growth in services which was up 2.3%. The December 2022 figure follows a yearly decrease in the Imacec of 2.5% in November, 1.2% in October and 0.4% in September.

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