Chile | Imacec weakened to 1.1% YoY in August, missing expectations

Summary

Economic activity in August increased 1.1% YoY (-1.0% MoM), below our expectations and those of consensus (both at 2.0% YoY). For September we estimate a preliminary figure in a range between 1.0% and 2.0% YoY. All in all, activity figures remain weak and print a downward bias to our GDP growth expectations -at 2.2%- for 2015.

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