Chile | Imacec grew 1.6% YoY in March above estimates due to a strong service sector

Summary

Aggregate activity grew 1.6% YoY (-0.3% MoM sa) in March, closing 1Q15 with a preliminary expansion of 2.2% YoY. Principally, this figure was explained by the greater value-added of services, which in turn was partially offset by a decline in manufacturing and mining output. All in all, for the current year we kept our estimation of a GDP growth at around 3%.

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