According to the Central Bank, this result was mainly explained by the performance of trade and industry, which grew 8.4% and 7.4%, respectively.
The Central Bank of Chile reported that the Monthly Index of Economic Activity (Imacec) for January 2025 grew 2.5% compared to the same month in 2024. Meanwhile, the seasonally adjusted series increased 0.4% compared to the previous month and 2.3% in twelve months.
"The Imacec result was mainly explained by the performance of trade and industry. Meanwhile, the increase in the Imacec in seasonally adjusted terms was driven by services, trade and industry," the Central Bank noted.
The issuing body also stated that the non-mining Imacec showed an annual growth of 2.9%, while in seasonally adjusted terms it increased 1.4% compared to the previous month.
Industry and trade, the engines of growth
By sector, goods production grew by 2.3% in annual terms, a result that was explained by industry, in particular by the performance of food processing. Overall, the manufacturing industry registered an increase of 7.4%. Meanwhile, the rest of the goods also contributed to the growth of activity and mining fell due to lower copper extraction.
In seasonally adjusted terms, the production of goods showed a contraction of 2.0% compared to the previous month, a result explained by lower mining activity.
Meanwhile, commercial activity showed an increase of 8.4% in annual terms and all its components exhibited positive results, highlighting the contribution of wholesale and retail trade. "The former was driven by food sales, in particular, by fruit exporters. Meanwhile, in retail trade, sales in supermarkets, specialized clothing stores and large stores stood out. The automotive trade registered higher vehicle sales," .
Seasonally adjusted figures showed growth of 3.4% compared to the previous month, driven by wholesale and retail trade.
Services, meanwhile, rose 1.0% year-on-year, driven by personal services and transportation. Seasonally adjusted figures showed growth of 1.0% over the previous month, driven by business and personal services.
