LatAm Daily | In Chile, economic activity in April increased below expectations

Summary

Imacec grew by 0.7% YoY in April, below both our and market expectations. We expect Imacec to grow between 2.5% and 3.5% YoY in May. The Chilean CB published its MP report; GDP expected for 2016 has been adjusted downwards in a range of 1.25%/2.25% to 1.25%/2.0%, while inflation is expected to increase by 3.6% in May. We think that the MPR will not change in 2016-17.

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