SANTIAGO – Chile’s economy grew 2 percent in February, compared to the same month in 2014, the Central Bank said Monday.
The figure was in line with analysts’ expectations, but it was below the level in January, when the economy grew at a 2.7 percent year-on-year rate.
The main drivers of growth in February were retail sales and services, which made up for a drop in mining activity.
The economy, on a seasonally unadjusted basis, contracted by 0.60 percent in February, compared to the same month in 2014, achieving 1.5 percent growth on a year-on-year basis, in a month with the same number of workdays as a year earlier.
The figures come from the Central Bank’s Monthly Economic Activity Index, or Imacec, which incorporates 91 percent of the goods and services included in the gross domestic product (GDP).
Chile’s economy has shown some signs of recovery in recent months after a slowdown that resulted in just 1.9 percent growth in 2014, the weakest performance since 2009, when the GDP contracted 1 percent amid the global financial crisis.