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May Activity Data Expected At 1400BST

CHILE
  • Activity data for May will be released at 1400BST(0900ET), including industrial production, retail sales and copper production. May economic activity (Imacec) will then follow next Monday. Analysts expect IP growth to pick up to 4.1% y/y, while retail sales growth softens to 2.6% y/y. Unemployment data for May will also be published, with consensus there for no change in the unemployment rate at 8.5%.
    • May Chile Copper Production, prior 408,454
    • May Unemployment Rate, est. 8.5%, prior 8.5%
    • May Industrial Production YoY, est. 4.1%, prior 2.0%
    • May Retail Sales YoY, est. 2.6%, prior 3.6%
  • In other news, Chile’s ageing copper mines will need to significantly increase their water and energy usage over the next decade to sustain production as ore quality diminishes, according to a report released by the state copper commission Cochilco. The report highlighted a projected surge in energy consumption, outpacing the growth in mining output.

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