Chilean economy exceeds expectations and grows a 6.8% in JunePublished: August 11, 2010
According to the Banco Central, the economic activity has been the responsible for a rise in employment caused by a strong dynamism of the commerce, transportation and the energy sector.
The Banco Central informed that the Economic Activity Rate (Imacec) of the month of June grew 6.8% compared to the same month in the previous year. This figure is the third consecutive rise and has exceeded the market expectations that suggested a growth between 5.6 and 6%.
Meanwhile, the issuing bank indicated that in the seasonally adjusted series (that eliminates the regular fluctuations that are repeated in the market) the growth was 0.8%. At the same time, the cyclical trend records an annualized expansion of 5.6%. The monthly record showed the same number of workdays in June 2009.
In May, the Chilean economy had a 7.1% of growth, a figure that presented the greatest advance in almost 5 years and widely exceeded all expectations.
This result in June was the influence of the dynamism in the retail and wholesale commerce sector, the transportation sector and the electricity, gas and water sector.
According to the pre-established schedule and public spreading of the National Accounts-, the preliminary figures of the GDP for the second quarter of the year will be published later on August the 18th.
Source: www.latercera.com