During the first quarter of 2020, the year-over-year GDP growth in Chile accelerated when compared to 4Q19 up to 0.47%. This performance was mainly due to the increase of the internal and external demand. However, it´s worth noting that in Chile the local economic indicators available at the statistical close of March did not incorporate the effects of Covid-19 and the measures taken to contain its spread. Regarding the labor market, the unemployment rate increased with respect to the previous quarter, to 7.82% in this quarter; while employment grew at a year-over-year rate of 1.53%, which represented a deceleration with respect to the previous quarter. In 1Q20, the inflation rate stood at 3.70%, after an acceleration with respect to 4Q19. The Chilean peso depreciated against the US dollar compared to the previous quarter. The average exchange rate of the Chilean peso was 802.80 CLP/USD in 1Q20.
For more information, click here to access the executive document in pdf (only avalaible in Spanish).
© GMS Management Solutions, S.L., 2020. 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.