CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Santander Say Excluding Mining, Economy Remains Stagnant

CHILE
  • Despite the positive surprise due to some specific results, economic activity figures continue to show an economy that remains stagnant, according to Santander. The Imacec excluding mining is located at levels below the average for the year, widening the gaps with respect to its trend. All in all, Santander revised upward their GDP estimate for the year to -0.5% (from -0.75%), placing it in the lower part of the range of the BCCh’s last MPR.
  • Activity in the month surprised on the upside, with an acceleration in the margin (0.6% m/m seasonally adjusted). The above was mainly driven by the mining sector (2.9% seasonally adjusted m/m) which had a better result than witnessed in the INE figures released last week. For its part, non-mining activity also registered a moderate advance in the margin (0.2% m/m seasonally adjusted).
  • For its part, the services component also grows in the margin (0.1% seasonally adjusted m/m), but without managing to recover the levels after the fall of the previous month, with a contraction in business services, closely linked to investment.
  • At the same time, trade continues to be weighed down (-0.7% m/m) by the retail component, pointing to consumption that remains contained, this time adding the wholesale part that had been recovering in recent months.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.