Chile Economic Activity Growth Slows in November

Chile’s IMACEC economic activity index rose 1.7% year-on-year in December 2025, accelerating from a 1.2% increase in November. Commerce posted the strongest performance, expanding 6.6%. Services grew 2.2%, while the industrial sector rose 2.0%. Mining contracted 8.1%, and overall goods production declined 0.9%. On a month-over-month basis, economic activity increased 9.6%, following a 2.4% gain in the previous month.

Chile’s IMACEC economic activity index rose 1.2% year-on-year in November 2025, slowing from 2.2% in October. Services increased 1.9%, driven mainly by personal services, particularly health, while transport services declined. Commercial activity advanced 5.5%, with gains across all components led by stronger vehicle sales. Goods production fell 1.3%, reflecting lower mining output due to reduced copper extraction and a decline in other goods tied to weaker electricity generation. Industrial activity rose 0.3%, as higher fuel refining offset a drop in beverage production. On a seasonally adjusted basis, activity declined 0.6% month-on-month.

Chile’s IMACEC economic activity index rose 2.2% year-on-year in October 2025, easing from 2.7% in the previous month. Commercial activity expanded 8.1%, with all components posting gains. Wholesale trade rose on higher sales of machinery, equipment, and food, while retail increased in department stores and specialized clothing shops. Automotive trade also grew on stronger vehicle sales and maintenance services. Services increased 2.5%, supported by personal services, particularly health, and by transport. In contrast, goods production fell 0.2% amid declines in mining and other goods. Mining dropped 1.6% due to lower copper extraction, while other goods contracted 0.2% on reduced electricity generation. Meanwhile, manufacturing rose 1.8% on higher food output. On a seasonally adjusted basis, the IMACEC increased 0.7% month-on-month.