Economy

Chilean economy grows in November for the first time since the start of the COVID-19 pandemic

That's what the country's economic activity index Imacec, disclosed by the Central Bank on Monday, shows

Container ship in the port of San Antonio, Chile. Photo: REUTERS/Rodrigo Garrido/File Photo
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Chile‘s economic activity grew in November for the first time since the coronavirus pandemic arrived in the Latin American country, the local central bank said on Monday.

The bank’s Imacec economic activity index rose 0.3% in November compared to the previous year, the bank said in a statement. The index covers about 90% of the economy, based on data from the Gross Domestic Product (GDP).

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Commerce grew 15.3% in November, with Chileans relaxing their quarantine measures. But the bank said that the production of goods and the services sector remained behind compared to the same month in 2019.

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Mining, an important industry in the world’s largest copper producer, contracted 1.1% in November, preventing a more vigorous growth of the economy, the bank said.

Translated by LABS