SANTIAGO -- Chile GDP growth expectations for 2015 worsened to 2.6% in the latest central bank survey, from 2.7% in the May survey.
For 2016, the latest median estimate is 3.4%. Analyst forecasts are 2.8% for 2015 and 3.5% for next year.
The monthly GDP proxy was surprisingly weak in April, posting no change versus March, in seasonally adjusted terms. Analysts had expected monthly growth to be 0.7%.
In annual terms, growth was 1.7%, considerably lower than the market estimate of 2.3%. A press release from the central bank simply noted that growth in April was supported by the services sector, which was partly offset by wholesale trade.
Monthly growth in March was revised to -0.5% from -0.3%.
Average monthly growth between February and April was - 0.4%.
Meanwhile, the latest survey also showed stability in year-end inflation estimates at 3.5% for 2015 and
3.0% for 2016, as well as in projections of the monetary policy rate, with the market anticipating the policy rate to rise to 3.25% in the next 11 months and to 3.50% in 17 months. The policy rate is currently at 3.0%.