Chile: Imacec rose +1.4% YoY in September, below expectations once again

Summary

Monthly economic activity index rose +1.4% YoY in September, slightly above our expectations (+1.1% YoY) but below those of the market (+1.7% YoY). The result was affected by an increase in value added of services partially compensated by negative contribution from mining activity. With this figure, preliminary we estimates a 3Q14 economic activity growth at 0.8% YoY, while the last quarter of 2014 should expand at around 2% YoY.

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