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CHILE: July Retail Sales, IP, Copper Production Expected At 1400BST

CHILE
  • Activity data for July will be published at 1400BST(0900ET), including retail sales, industrial production and copper production. The market is expecting retail sales growth to slow to 3.1% y/y, from 7.9%, but sees a rebound in IP growth to +1.1% y/y, from -1.0%.
  • Next week, attention will turn to July IMACEC activity data on Monday, which is the last major release ahead of the BCCh monetary policy meeting on Tuesday. Yesterday’s BCCh traders survey showed that a 25bp cut to 5.50% is expected by market participants, which is consistent with the latest Bloomberg consensus. A full MNI preview of the BCCh meeting, with analysts’ views will be published on Monday.
    • July Retail Sales YoY, est. 3.1%, prior 7.9%
    • July Industrial Production YoY, est. 1.1%, prior -1.0%
    • July Manufacturing Production YoY, est. 0.5%, prior -4.8%
    • July Copper Production Total, prior 452,850

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