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This Tuesday the Central Bank (BC) reported the Monthly Index of Economic Activity (Imacec) corresponding to October.
According to preliminary information, the Index fell 1.2% compared to the same month of the previous year.
“The seasonally adjusted series decreased 0.5% compared to the previous month and fell 0.9% in twelve months. The month registered one business day less than October 2019 ”, indicated the BC.
The fall in activity in October (-1.2%) is much more discreet when compared to the previous months; and has a low base of comparison with the same month of 2019. Of course, economists they projected a positive record.
It should be remembered that after months showing the effects of the pandemic in Chile and the world, in September the indicator had already fallen, marking a single digit (-5.3%).
In August, the Imacec fell 11.3% and in July 10.7%. In June the indicator had already shown a “relief” by falling 12.4% after during April and May it registered falls of 14.1% and 15.3%, respectively.
Imacec of -1.2% in October
The result of Imacec was impacted by the effects of the health emergency associated with covid-19, which influenced the mobility of people and the normal operation of productive establishments.
In this context, the BC said in its report, the activities that explained the fall were “services and the production of goods, with decreases of 4.9% and 1.3%, respectively.”
By contrast, “Commerce grew 17.0%, contributing positively to the previous result.”
Meanwhile, the fall in the seasonally adjusted Imacec was explained by the performance of services, partially offset by the production of goods.
Imacec analysis by activity
Production of goods
The lowest performance of the production of goods It was explained by the group of other goods, which recorded a decrease of 8.1%, associated with the drop in construction. They partially offset the previous result, manufacturing industry and mining with increases of 4.9% and 1.6%, respectively.
According to figures adjusted for seasonality, the production of goods showed an increase of 3.1% compared to the previous month. “Other goods and, to a lesser extent, the manufacturing industry drove this result, while mining fell,” added the issuing institute.
Commerce
The growth of commercial activity was driven by all its components, retailing being the one with the greatest dynamism.
Consistent with the above, trade showed an increase of 0.9% compared to the previous month, according to seasonally adjusted figures.
Services
In services, the restaurant and hotel falls, transportation and education.
Also, seasonally adjusted figures show a 3.3% drop compared to the previous month.
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