Chilean economy exceeds expectations, growing 4.6% in November of 2007

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SANTIAGO.- The Chilean economy grew more than expected in November after increasing 4.6% with respect to the same month during 2006.

Analysts forecasted that the Monthly Economic Activity Indicator (Imacec) for November of 2007 would be 4.1%. The estimate was slightly greater than the 4.0% reported in November 2006.

The month included the same number of workdays as in November 2006.

While Chile's Gross Domestic Product (GDP) grew 5.9% during the first three months of 2007, it increased 6.2% during the second trimester. Nevertheless, during the third trimester, the figure fell to 4.1%.

The Monthly Economic Activity Indicator measures changes in economic activity during a given month and makes forecasts based on production indicators for various industries. The industries used to make the forecasts are considered for their influence on the GDP during the current year, based on national counts (2003).