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Chile Economic Recovery Speeds Up as Stimulus Cash Powers Demand

Chile Economic Recovery Speeds Up as Stimulus Cash Powers Demand

Chile’s economic activity rose for the fifth straight month, as billions of dollars in stimulus measures propel the recovery of one of the region’s richest nations.

The Imacec index, which is a proxy for gross domestic product, rose 1.7% in September compared to the 1.1% increase recorded the month prior, the central bank reported on Tuesday. From a year ago, activity jumped 15.6%, above the 12.3% median estimate from analysts in a Bloomberg survey.

Chile Economic Recovery Speeds Up as Stimulus Cash Powers Demand

Chile’s economy is one of the fastest growing in the world, with demand propelled by government cash transfers and also early pension fund withdrawals. As a result, the central bank has raised its interest rate in three straight meetings. Going forward, uncertainty over elections and a new constitution may curb activity including investments.

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