Macroeconomic Forecast Chile

BMI View: November's industrial production data surprised to the upside, posting an increase of 1.0% year-on-year (y-o-y), making it the first month to see positive growth since September 2008. Although industrial sales growth remained in negative territory, recording -1.2% y-o-y growth in November, this is a considerable improvement on the trough of -11.6% y-o-y in February. These figures represent further indication that economic activity is picking up after the difficulties of 2009, supporting our view that Chile is in line for a robust economic recovery in 2010.

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