Economy grows less than expected, registering only 4.4% in October

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SANTIAGO.- According to information released today by the Central Bank, the Chilean economy expanded only 4.4% during the month of October.

The result was negatively affected by the fall of copper production and of added value to electricity generation.

Forecasts made by analysts for October's Monthly Economic Activity Indicator (Imacec) had been between 4.5 and 5.2%.

The lowest Imacec estimate came from Rodrigo Ibáñez, of BanChile Investments, at 4.5% for October. The highest estimate was that of Pablo Correa of Santander Investment, at 5.2%.

The Bank Association's general manager, Alejandro Alarcón, had made a forecast of 5.1% and indicated that the Imacec was on a plateau for the economy growth trend.

Tomás Flores, of the Liberty and Development Institute (LyD), was expecting an Imacec of around 5% for October.