Economy / Chile
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Time For A Rate Rise?
June 2004 | Market StrategySorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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The recovery in the Chilean economy continues to gather momentum. According to recent central bank figures, its monthly economic activity index known as Imacec, which covers about nine-tenths of GDP, showed a 5% y-o-y rise in April. Apart from higher mining and industrial output, this also reflected an improved outturn for exports. To a large extent, higher exports explained the rise in the surplus on merchandise trade account last month to US$967m. Exports totalled US$2,756m in May, against imports, which stood at US$1,789m. An important support to exports remains copper receipts, which make up around 40% of the total. The