MercoPress. South Atlantic News Agency

Chilean economy recovering strongly shows Central bank data

Across the board increase in activity

Chile’s Central Bank released the Economic Activity Index (IMACEC) results for June on Sunday showing an increase in economic activity of 6.8%, over June 2009. The results showed an increase in activity across the board — from the transportation and electric industries, to gas and water.

June’s numbers were the third consecutive increase in economic activity in Chile this year, surpassing market expectations yet again. Experts had predicted an increase of between 5.6% and 6% for June.

According to the Central Bank, the numbers indicate that privatizing certain industry sectors in the past year has stimulated greater-than-expected growth, contributing to an overall increase of 7.1% in Chile’s economy for 2010. The growth rate surprised economists and surpassed all previous expectations for overall growth in 2010.

The preliminary GDP growth rates for this year’s second trimester will be publicized by the bank on Aug. 18.

By Christine Mehta – Santiago Times