Chile’s economic activity expanded for the first time since January as a surge in mining softened the blow from declines across other sectors, corroborating the central bank’s plans to continue interest rate cuts.
The Imacec index, a proxy for gross domestic product, rose 0.5% in June from the previous month, compared to the -0.1% median estimate in a Bloomberg survey. From a year prior, it fell 1%, the central bank reported on Tuesday.
Read More : Chile’s Economy Surprisingly Expands for the First Time Since January