SANTIAGO, Feb 5 (Reuters) - Chile's economic activity
expanded 4.7 percent in December of last year compared with the
same month of 2011, beating forecasts for 4.0 percent growth on
the back of surging services and retail, the central bank said
The small, exports-dependent country's economic activity
totaled 5.5 percent growth last year, defying forecasts for a
harsher slowdown on the back of slowing demand from top trade
partner China and fallout from the euro zone crisis.
The IMACEC indicator of economic activity grew
1.2 percent in December from November, broadly keeping up its
expansion rhythm after 1.3 percent growth in November from
A tight labor market, along with firm domestic demand and
strong economic growth, has prompted Chile's central bank to
keep its key interest rate on hold since a surprise
cut in January 2012.
In December 2011, the IMACEC was up 6.9 percent versus a
The central bank calculates its month-on-month IMACEC data
in seasonally adjusted terms. A monthly gauge, the IMACEC
measures more than 90 percent of the components comprising
Chile's gross domestic product, which is published quarterly.
For the central bank's statement on IMACEC, please see: http://www.bcentral.cl/prensa/notas-prensa/pdf/05022013.pdf
(Reporting By Santiago newsroom; Editing by W Simon)
Keywords: CHILE IMACEC/
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