Chile | Imacec rose +2.8% YoY in February driven by strong calendar effects

Summary

Economic activity rose 2.8% YoY (0.8% MoM SA), above our forecast and market consensus (both at around +2.4% YoY). The figure was driven by positive contributions from commerce, services and mining, but also affected by strong calendar effects related to one additional working-day. For March we estimate a preliminary figure within the range 1.0%/2.0% YoY.

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