Chile | IMACEC with a ceiling of 2% YoY in May – Labor market depreciation surges

Summary

In May, activity by sector shows that the economy is in a weakening phase with significant impact on employment. The unemployment rate in May was of 6.8%, which is the highest since 2011, with high probability of increasing beyond 7% in the following months. As a result, we estimate that the economy has not grown more than 2% YoY in May.

Geographies

Topics