Chilean economy contracts for the first time in seven years; minister blames "temporary factors"

Chilean economy contracts for the first time in seven years; minister blames “temporary factors”

Tuesday, December 6th 2016 - 09:09 UTC

Full article 2 comments

Chile's economy contracted for the first time in seven years in annual terms, as manufacturing and mining activity fell, potentially paving the way for the central bank to cut interest rates to spur growth. Economic activity fell 0.4% in October from the year-earlier month, the first annual contraction since October 2009, central bank data showed on Monday. Read full article

Comments

Disclaimer & comment rules

Bisley
There is no difficulty in understanding why Chile's economy is declining, and will continue to decline if the cause of it remains -- socialism. One need only to look at Cuba and Venezuela, both of which were more prosperous before the socialists took control and destroyed their countries.
Dec 06th, 2016 - 02:51 pm - Link - Report abuse 0
-+
Marti Llazo
Chile's principal economic problem right now is not so much its social programmes as the lack of markets for its mix of exports. As goes copper, so goes Chile. And copper is down. Bachelet's incompetence, corruption, and associated attempted political correctness are pretty much fixed features in Chile that don't have large impacts on the economy.
Dec 06th, 2016 - 04:07 pm - Link - Report abuse +1
-+

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!