Chile Economy Grows for Second Month as Recovery Gains Steam
- Activity rose 0.8% on month, 4.5% on year in February
- Central bank expected to cut key rate again on Tuesday
The Port of Arica in Arica, Chile.
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Chile’s economic activity rose for the second straight month on increases across multiple sectors, bolstering government claims that the recovery is gradually gaining strength.
The Imacec index, a proxy for gross domestic product, increased 0.8% in February compared to January, less than the 1% median estimate in a Bloomberg survey. Still, January’s month-on-month rise was revised higher, to 2%, the central bank reported on Monday.