Chile: We forecast monthly GDP between -0.2% and +0.8% YoY in July

Summary

We estimate retail sales to continue with moderate growth rates, with a figure between 1.5% and 2.5% YoY in July, explained by positive contribution from clothing, footwear and electronic items, partially compensated by a double-digit contraction in car sales. Meanwhile, we forecast a manufacturing and mining output that would show a contraction in a range between 1% and 4% YoY in the period. All in all, we estimate the monthly activity index (Imacec) to have grew in a range between -0.2% to +0.8% YoY in July.

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