Chile | Imacec expanded 2.0% YoY in February, slightly above expectations

Summary

Aggregate activity increased 2.0% YoY (-0.6% MoM) in February, slightly above our and market consensus. The figure accounted for positive contributions from retail sales and services that were partially offset by declines in mining production. For March, we estimate the IMACEC to have grew in a range between 1.5% and 2.5% YoY, with downward bias.

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