Chile: Imacec at +1.3% YoY in November, in line with market expectations

Summary

The monthly economic activity index increased +1.3% YoY in November, slightly above our expectations (+0.9% YoY) and more in line with those of the market (+1.4% YoY). The result was affected mainly by an increase in the value added of services that was partially compensated by the negative contribution from mining activity, manufacturing industry and wholesale commerce. With this figure, we preliminary estimate an economic activity growth at around 1.5% YoY in 4Q14.

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