Chile Economic Activity Falls for Second Month

2026-10-01 11:56 By Larissa Miranda 1 min. read

Chile's IMACEC economic activity index fell 1.0% year-on-year in August 2026, following a 1.5% drop in July, marking the second consecutive month of contraction.

Goods production declined 4.9%, dragged down by a 17.4% plunge in mining, particularly copper, amid lower ore grades, maintenance work and adverse weather.

In contrast, other goods rose 4.9%, supported by higher electricity generation due to greater water availability, while manufacturing edged up 0.3%, as higher output of chemical and fishery products offset a drop in pulp and paper production.

Trade activity rose 2.2%, driven by automotive and retail sales, while wholesale trade was flat.

Services increased 0.8%, led by personal services, especially health, although restaurant and hotel activity declined.

The non-mining IMACEC rose 1.4%.

On a seasonally adjusted monthly basis, economic activity decreased 0.7%, following a downwardly revised 1.8% fall in July.



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Chile Economic Activity Falls for Second Month
Chile's IMACEC economic activity index fell 1.0% year-on-year in August 2026, following a 1.5% drop in July, marking the second consecutive month of contraction. Goods production declined 4.9%, dragged down by a 17.4% plunge in mining, particularly copper, amid lower ore grades, maintenance work and adverse weather. In contrast, other goods rose 4.9%, supported by higher electricity generation due to greater water availability, while manufacturing edged up 0.3%, as higher output of chemical and fishery products offset a drop in pulp and paper production. Trade activity rose 2.2%, driven by automotive and retail sales, while wholesale trade was flat. Services increased 0.8%, led by personal services, especially health, although restaurant and hotel activity declined. The non-mining IMACEC rose 1.4%. On a seasonally adjusted monthly basis, economic activity decreased 0.7%, following a downwardly revised 1.8% fall in July.
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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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