Retail Sales in Chile surged 7.5 percent year-on-year in October 2018, following a downwardly revised 1.3 percent increase in the previous month. It is the strongest gain in retail trade since November 2013, mainly due to higher sales of electronic products (20.5 percent vs 3.3 percent in September), new light vehicles (24.5 percent vs 13.0 percent) and tires and accessories for motor vehicles (17.1 percent vs 0.8 percent). On a monthly basis, retail sales jumped 6.8 percent, after an upwardly revised 3.7 percent decline in the preceding month. Retail Sales YoY in Chile averaged 6.49 percent from 2006 until 2018, reaching an all time high of 23.80 percent in April of 2010 and a record low of -5.10 percent in April of 2009.
Retail Sales YoY in Chile is expected to be 3.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Chile to stand at 5.74 in 12 months time. In the long-term, the Chile Retail Sales YoY is projected to trend around 3.70 percent in 2020, according to our econometric models.