This figure, submitted by the Central Bank earlier this week, surprised most of the market analysts, which betted on this month to be the first, since October 2008, with a positive variation on Imacec.
According to Fishfarmingexpert.com, even the President Michelle Bachelet, echoing previous estimations, predicted a positive figure for last September, failing in the forecast. Regarding October’s figure she said that “it is not completely bad news”, underlining that there is already a trend towards improvement.
Chilean Finance Ministry, Andrés Velasco, said that compared with last month seasonally-adjusted Imacec increased 0.4 per cent on October. “That coheres with our outlook, which indicates that the economy is headed for a growth close to five per cent in 2010”, he ended.
Economic Activity Continues To Fall
CHILE - A strong contraction in the Chilean industrial production, especially in the salmon industry, lead to a negative 0.9 per cent interannual variability in the Economic Activity Monthly Index (Imacec) as of October.
