The economy of Chile grew 1.9 percent year-on-year in the second quarter of 2019, following a 1.6 percent expansion in the previous period and beating market expectations of 1.8 percent. Fixed investment increased at a faster pace, mainly due to construction while household consumption and government spending slowed. Among economic activities, growth was mainly boosted by the services sector namely personal services, real estate and business. Also, the mining sector expanded marginally, after shrinking in the first quarter of the year. On a seasonally adjusted quarterly basis, the economy advanced 0.8 percent, after stalling in the prior quarter. GDP Annual Growth Rate in Chile averaged 3.78 percent from 1997 until 2019, reaching an all time high of 9.50 percent in the first quarter of 2011 and a record low of -3.90 percent in the second quarter of 1999.
GDP Annual Growth Rate in Chile is expected to be 3.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Chile to stand at 3.10 in 12 months time. In the long-term, the Chile GDP Annual Growth Rate is projected to trend around 3.30 percent in 2020, according to our econometric models.