Chile's economy likely grew by 1.8% in 2014, less than half the pace in 2013
The relatively stronger export growth in Chile - on the back of the base effect - pulled up growth numbers in December and January to respectable levels, albeit still below trend. Societe Generale notes the following in …
The relatively stronger export growth in Chile - on the back of the base effect - pulled up growth numbers in December and January to respectable levels, albeit still below trend.
Societe Generale notes the following in a report on Monday...
The economy likely grew by 1.8% in 2014 (1.7% yoy in Q4) versus growth of 4.1% in 2013.
However, recent import numbers were the weakest since H2 09 and (despite improved growth of 2.7% yoy in January) suggest that either consumption or investment demand growth (or both) continued to decelerate/fall in early 2015.
Growth is surviving on the modest growth in consumption, counter-cyclical fiscal spending and - arithmetically - falling imports.
The Q4 demand-side data should throw more light on the issue.
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