Retail sales in Chile went up 2.3 percent year-on-year in August 2019, following a downwardly revised 1.6 percent gain in the previous month. Sales increased further in spare parts, tires & accessories for automotive vehicles (10.8 percent from 5.8 percent in July); light commercial & used motor vehicles (16.6 percent from 3.6 percent); pharmacy, cosmetics & personal hygiene products (4.4 percent from 1.1 percent); and building materials, tools, hardware & paint (5.1 percent from 1.7 percent). Also, other non-classified sales rebounded (10.4 percent from -4.8 percent). On a monthly basis, retail trade jumped 7 percent, after an upwardly revised 1.1 percent fall in the prior month. Considering the first eight months of the year, retail trade rose 0.8 percent over a year earlier. Retail Sales YoY in Chile averaged 6.28 percent from 2006 until 2019, 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 3.30 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 3.90 in 12 months time. In the long-term, the Chile Retail Sales YoY is projected to trend around 3.90 percent in 2020, according to our econometric models.