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Macroeconomic outlook report: Chile

First quarter of 2019

During the first quarter of 2019, Chilean GDP decelerated by 1.32 p.p. its year-over-year growth, to a rate of 1.95%. This performance was mainly due to internal demand, after registering a slowdown of 1.37 p.p. its year-over-year growth, to a rate of 2.94%. In the labor market, the unemployment rate decreased by 0.14 p.p. from the previous quarter to 6.79%, while the year-over-year rate of employment creation accelerated by 0.01 p.p. to 0.75%. Inflation stood at 2.30% after decelerating by 0.47 p.p. compared to 4Q18. The Chilean peso appreciated against the US dollar, to an average exchange rate of 667.01 $CLP/USD in 1Q19.

Macroeconomic overview

  • During the first quarter of 2019, Chilean GDP deaccelerated by 1.32 p.p. its year-over-year growth, to a rate of 1.95%. This performance was mainly due to internal demand, after registering a slowdown of 1.37 p.p. its year-over-year growth, to a rate of 2.94%.
  • In the labor market, the unemployment rate decreased by 0.14 p.p. from the previous quarter to 6.79%, while the year-over-year rate of employment creation accelerated by 0.01 p.p. to 0.75%.
  • Inflation stood at 2.30% after decelerating by 0.47 p.p. compared to 4Q18.
  • The Chilean peso appreciated against the US dollar, to an average exchange rate of 667.01 $CLP/USD in 1Q19.

For more information, click here to access the executive document in pdf (only avalaible in Spanish).

© GMS Management Solutions, S.L., 2019. All rights reserved. The information contained on this publication is of a general nature and does not constitute a professional opinion or an advisory service. The data used in this publication come from public sources. GMS Management Solutions, SL assumes no liability for the veracity or accuracy of such data.