Industrial production in Chile decreased 2.9 percent year-on-year in June of 2019, after being flat in the previous month. It is the sharpest fall in industrial activity since February, as manufacturing output slumped 5.4 percent, the most since April of 2017 and compared with a 2.2 percent rise in May. Also, utilities output fell further (-4.2 percent from -1.5 percent) while mining production showed no growth, after falling 2.0 percent, with copper decreasing 0.9 percent (from -1.2 percent in May). On a monthly basis, industrial production dropped 1.1 percent, down from a 0.2 percent gain in May. Industrial Production in Chile averaged 1.82 percent from 1997 until 2019, reaching an all time high of 14.05 percent in May of 2000 and a record low of -11.50 percent in February of 2009.
Industrial Production in Chile is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Chile to stand at 3.50 in 12 months time. In the long-term, the Chile Industrial Production is projected to trend around 3.60 percent in 2020, according to our econometric models.