Chile's economic activity has experienced a notable slowdown, according to the latest data released on October 1, 2024. The economic activity indicator for August 2024 has stopped at 2.3%, a substantial decrease from the 4.2% recorded in July 2024.
This marks a significant year-over-year comparison; in July, the economic activity increase compared to the same month the previous year was 4.2%. However, by August, this annual growth rate had slowed to just 2.3%, suggesting a cooling off in economic expansion as the year progresses.
The new data raises concerns about the sustainability of Chile’s economic recovery and could prompt policy adjustments aimed at reviving growth. Analysts will be closely watching upcoming indicators and any governmental responses to this slowdown.