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October Retail Sales Decline 12.3% Y/y, Beats Estimates

  • Chile Oct. Retail Sales -12.3% Y/y; Est. -15.3%
  • Chile Oct. Industrial production falls 4.2% Y/y; est. -4.1%
  • Chile Oct. Mfg production falls 9.2% Y/y; est. -4.3%
  • Chile Oct. Commercial activity falls 11.4% Y/y
  • Economic activity data tomorrow remains the focus where the annual reading is expected to print at -1.5% Y/y. This data, alongside next Wednesday’s CPI data for November will remain in focus as a further softening will likely ramp up expectations of the BCCh needing to cut rates early next year.
  • President Gabriel Boric says he and his Peruvian counterpart Pedro Castillo agreed to hold a meeting of Pacific Alliance members in Peru. He added that a date will be defined soon after consultations with other heads of state.

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