Chile IMACEC Declines More Than Expected

2026-09-01 12:55 By Isabela Couto 1 min. read

Chile’s IMACEC economic activity index fell 1.5% year-on-year in July 2026 after rising a downwardly revised 2% in June, missing forecasts for a 0.4% increase and marking the sharpest decline since March 2026.

Goods production fell 3.2%, driven by a 9.3% decline in mining, particularly copper, due to lower ore grades, maintenance work and adverse weather.

Manufacturing output fell 3.1%, also affected by weather, with lower production of fuels and chemical products.

Services declined 0.7%, reflecting weaker personal, business, transportation, restaurant and hotel services.

Trade activity rose 0.7%, driven by retail sales, partly offset by lower wholesale activity.

The non-mining IMACEC fell 0.3%.

On a seasonally adjusted monthly basis, economic activity decreased 1.7%.



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Chile IMACEC Declines More Than Expected
Chile’s IMACEC economic activity index fell 1.5% year-on-year in July 2026 after rising a downwardly revised 2% in June, missing forecasts for a 0.4% increase and marking the sharpest decline since March 2026. Goods production fell 3.2%, driven by a 9.3% decline in mining, particularly copper, due to lower ore grades, maintenance work and adverse weather. Manufacturing output fell 3.1%, also affected by weather, with lower production of fuels and chemical products. Services declined 0.7%, reflecting weaker personal, business, transportation, restaurant and hotel services. Trade activity rose 0.7%, driven by retail sales, partly offset by lower wholesale activity. The non-mining IMACEC fell 0.3%. On a seasonally adjusted monthly basis, economic activity decreased 1.7%.
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