Chile IMACEC Contracts in March

Chile’s IMACEC economic activity index fell 0.1% year-on-year in March 2026, following a 0.3% contraction in February. Goods production dropped 5.2% after a 3.7% decline in the previous month, weighed down by a 6.5% fall in mining and a 2.6% contraction in industrial output. In contrast, trade activity grew 5.1%, while services expanded 2.1%. On a monthly basis, the IMACEC surged 15.2%, rebounding from a 6.5% drop in February and marking the strongest monthly expansion since March 2022.

Chile's IMACEC economic activity index contracted 0.3% year-over-year in February 2026, following a 0.5% contraction in January and falling well short of forecasts for a 1.9% expansion. Goods production declined 3.7% after a 2.2% fall in January, dragged by industry at 3.6% and other goods at 5.4%. In contrast, the mining sector rose 1.0%, rebounding from a 1.1% contraction. Services activities expanded 1.6%, accelerating from a 1.1% gain in the prior month. Trade activity also rose 0.2%, rebounding from a 0.9% decline. On a monthly basis, the IMACEC fell 6.5%, following a 13.6% plunge in January.

Chile's IMACEC economic activity index contracted 0.1% year-on-year in January 2026, reversing a 1.7% gain in December. Goods production declined 1.5%, dragged by industry (-1.7%), mining (-1.0%), and other goods (-1.9%). Services expanded 1.4% and trade grew 0.4%, partially offsetting the weakness. Month-over-month, activity plunged 13.5%, following a 9.6% rise in the prior month.