The Imacec result was explained by the growth of all its components, with services and industry standing out for their contribution.
This Monday, the Central Bank of Chile reported that the Monthly Index of Economic Activity (Imacec) for the month of July 2024 grew 4.2% compared to the same month of the previous year, well above the expectations of experts, who anticipated an expansion of between 2.5% and 2.7%.
The seasonally adjusted series increased by 1.0% compared to the previous month and grew by 2.8% in twelve months.
The month recorded one more business day than July 2023, the issuing institute detailed.
The Imacec result was explained by the growth of all its components, with services and industry standing out for their contribution.
"These same activities were the ones that boosted the Imacec in seasonally adjusted terms," the Bank added on its website.
The non-mining Imacec, meanwhile, showed an annual growth of 4.4%, while in seasonally adjusted terms it "grew 1.5% compared to the previous month."
PRODUCTION OF GOODS
The Central Bank said that the production of goods increased 3.4% in annual terms, a result influenced by industry and mining.
In the industry, the highest production of food was highlighted, particularly in the fishing industry.
Meanwhile, in mining, lithium and copper extraction did so. The rest of the goods showed a variation of 0.9%.
"In seasonally adjusted terms, the production of goods increased by 0.7% compared to the previous month, explained by industry, which grew by 4.4% and, to a lesser extent, by other goods, which increased by 1.1% (both groups driven by fishing products)," said the issuing institute.
Mining, for its part, fell 2.5%.
TRADE AND SERVICES
Commercial activity showed an increase of 4.9% in annual terms. This was a general result, highlighting the increase in wholesale trade, driven by sales of machinery and equipment; and household goods.
According to the Central Bank, seasonally adjusted figures showed a contraction of 1.8% compared to the previous month, mainly affected by retail trade.
Meanwhile, services increased by 5.3% in annual terms, a result that was explained by education services, where an additional week of classes was recorded due to the change in the winter vacation schedule.
Transport services also contributed to the result.
Finally, the Central Bank indicated that the seasonally adjusted figures showed a growth of 1.6% compared to the previous month, influenced by personal and business services.
