Macroeconomic Forecast Chile

July 2008 | Macroeconomic Forecasts

Chile's unemployment rate during the three-month period March-May rose to 8.0%, its highest level since August 2006, and marks a considerable uptick from January, when the official unemployment rate stood at 7.2%. We have revised up Chile's end-2008 unemployment forecast to 7.6%, from previous projections of 7.2% on the back of slowing economic activity. Indeed, our outlook could deteriorate further should inflationary pressures remain unchecked in the medium term, suggesting that Chile's economic downward trend may be more prolonged that we currently assume.

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