Chile GDP Growth Beats Forecasts

The Chilean economy advanced 2.2 percent year-on-year in the third quarter of 2015, up from a 1.9 percent rise in the previous period and compared to market expectations of a 2.1 percent expansion boosted by a rebound in investment and higher household and government spending.

Year-on-year, domestic demand surged 3.6 percent, higher than a 3.1 percent increase in the previous period: household consumption grew 1.8 percent (1.5 percent in the second quarter), gross fixed capital formation surged 7.1 percent, rebounding from a 3.3 percent drop in the second quarter. Investment in machinery and equipment increased 12.2 percent while construction investment went up 4.9 percent. Government spending also grew at a faster 5.9 percent (4 percent in the second quarter).

Exports fell 0.9 percent, second consecutive quarter of contraction (-5.5 percent in the second quarter) while imports grew 3.1 percent, rebounding from a 5.4 percent decline. 

On a quarterly basis, the economy advanced 0.4 percent, following a 0.1 percent drop in the previous period.

Chile GDP Growth Beats Forecasts

Joana Taborda |
11/18/2015 12:24:55 PM