Chile | Imacec increased 0.7% YoY in April, missing expectations

Economic activity grew 0.7% YoY in April (-1.3% MoM sa), below both our and market expectations (BBVAe: 1.5% YoY; consensus: 1.9% YoY). The figure was driven by negative contributions in mining sector and a less than expected positive contribution from services and retail sectors. For May, preliminary we expect an Imacec growth in a range between 2.5% and 3.5% YoY.

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