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Gross domestic product (GDP) Chile rose 0.3% in the third quarter year-over-year, in line with what the market had been expecting, a figure that confirms the slowdown in economic activity, the central bank said this Friday.
This is far behind the 5.6% growth recorded in the second quarter of the year and 7.4% in the first quarter, according to data reviewed in the Central Bank’s quarterly national accounts report.
Compared to the second quarter, the seasonally adjusted data confirms a 1.2% contraction in GDP in the third quarter of the year.
“This result is mainly due to the performance of personal services, mining and trading,” BC said.
growth forecast
After growing at a record 11.7% in 2021, driven by government bailouts and early withdrawals from pension funds to combat the COVID-19 pandemic, and after the first year of the pandemic, the Chilean economy has entered a slowdown phase.
This year’s expansion GDP ranging from 1.75% to 2.25% during 2021.
According to the Economic Commission for Latin America and the Caribbean (ECLAC), Chile will become the only country in Latin America to record a 0.9% GDP contraction in 2023.
(AFP)
Source: RPP
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.