Far below expectations, the Monthly Economic Activity Index (Imacec) fell by 0. 3% in February compared to the same month last year, according to a report this morning from the Central Bank. The seasonally adjusted series decreased by 0.
3% compared to the previous month and grew by 0. 6% over 12 months. The month had the same number of working days as February 2025.
"The result of the Imacec was explained by the decline in goods production, which was partially offset by the performance of services. Meanwhile, the decrease in the seasonally adjusted Imacec was influenced by commerce and industry," said the Central Bank. This figure is well below market expectations.
The consensus among analysts in the Bloomberg survey was for an increase of 1. 6%, while local economists anticipated a minimum of 0% and a maximum of 1. 3%.
Additionally, this marks the second decline so far this year, following a 0. 5% drop in January in Chilean activity. Developing...