- Economic activity soared 14.1% in April boosted by a low basis for comparison versus the previous year and amid early signs of recovery from months of coronavirus-induced stagnation;
- Economic activity dropped 1.4% versus March, however, as much of the South American nation was locked down in April amid a fierce second wave;
- Commercial activity soared 33.1% in April versus the previous year, while services jumped 16.3%.
Chile‘s economic activity soared a record 14.1% in April, the central bank said on Tuesday, boosted by a low basis for comparison versus the previous year and amid early signs of recovery from months of coronavirus-induced stagnation. The bank’s monthly IMACEC economic activity index encompasses about 90% of the economy tallied in gross domestic product figures.
Economic activity dropped 1.4% versus March, however, as much of the South American nation was locked down in April amid a fierce second wave of contagions that followed the southern hemisphere summer.
Commercial activity nonetheless soared 33.1% in April versus the previous year, while services jumped 16.3%. The production of goods rose 3.8%, mainly supported by manufacturing, the bank said.
“This result was explained, in part, by a greater adaptation of homes and companies to the health emergency associated with COVID-19,” the bank said.
In April last year, economic activity had plunged 13.8% year-on-year as the Chilean government moved early to stave off the fast-spreading virus.
Chile is the world’s top copper producer.
