According to data released by the Central Bank, in annual terms the production of goods increased 4.8%; Commercial activity grew 6.4% and services increased 2.9%.

This Monday, the Central Bank of Chile reported that the Monthly Economic Activity Index (Imacec) for April 2024 grew 3.5% compared to the same month of the previous year, in line with what the market had estimated and hand in hand with the three more business days that the month had.

In the previous month, March, the Index showed a modest expansion of 0.8%, considering that in February it registered its best performance in 21 months, with an increase of 4.5%.

Imacec April 2024

Regarding the Imacec for April of this year, the issuing institute detailed that the seasonally adjusted series decreased 0.3% compared to the previous month and grew 2.1% in twelve months.

The month recorded three more business days than April 2023.

All activities contributed to Imacec's annual growth, highlighting the performance of services.

“Meanwhile, the decrease in Imacec in seasonally adjusted terms was explained by the result of mining and commerce,” said the Central Bank.

The non-mining Imacec presented an annual growth of 3.5%, while in seasonally adjusted terms it did not register a variation compared to the previous month.

Production of goods

According to the report, the production of goods increased 4.8% in annual terms, a result influenced by all its components.

In the rest of the goods, the growth in electricity generation and in industry, food production, stood out. While in mining, the increase in lithium production was partly offset by the drop in copper.

In seasonally adjusted terms, the production of goods presented a contraction of 0.5% compared to the previous month, explained by the performance of mining, which fell 2.4%.

For their part, industry and the rest of goods grew 0.9% and 0.3%, respectively.

Trade

Commercial activity, for its part, “presented an increase of 6.4% in annual terms, a general result in all its groups.”

Wholesale sales stood out, particularly of food, household goods and clothing. Meanwhile, in retail trade, higher sales were recorded in specialized clothing and household equipment establishments.

“The seasonally adjusted figures showed a contraction of 1.4% compared to the previous month, mainly affected by wholesale trade,” the Bank said.

Services

Finally, services increased 2.9% in annual terms, where growth was recorded in most of its activities, highlighting personal services and transportation.

The seasonally adjusted figures showed a growth of 0.2% compared to the previous month.