Chile GDP Growth Accelerates to 2% in Q1
The Chilean economy advanced 2 percent year-on-year in the first quarter of 2016, accelerating from a 1.3 percent growth in the previous period. The figure came in better than an expected 1.8 percent expansion, mainly boosted by a net rise in exports.
5/18/2016 2:26:03 PM
Main contribution came from net external demand, as exports advanced 2.4 percent (-0.9 percent in Q4) while imports fell 3 percent (-1.8 percent in Q4). Domestic demand went up 0.5 percent (+1 percent in Q4), as household spending grew 1.6 percent (+1.1 percent in Q4) and government consumption rose 5.4 percent (+4.9 percent in Q4). Gross fixed capital formation rebounded to a 1.2 percent increase after shrinking 1.3 percent in the previous period. In contrast, inventories fell 0.5 percent, after a 0.4 percent drop in Q4.
On a quarterly basis, the GDP grew 1.3 percent, following a meager 0.1 percent expansion in the previous period and beating market consensus of 1.2 percent gain.