Chile: Economic Growth Seen Improving In Q3

The Chilean economy is expected to expand at a faster pace in the third quarter.
Gross domestic product is forecast to rise 7.1% year-on-year in the third quarter, faster than a 6.5% growth in the previous quarter.
Meanwhile, the current account balance is expected to post a deficit of US$120 million in the third quarter, compared to a US$46.8 million surplus in the previous three months.
The Central Bank of Chile is set to release the GDP and current account data at 6.30 am ET on Thursday.
According to the International Monetary Fund, Chile's economy is set to grow 6% next year, strongly recovering from the adverse shocks of the global financial meltdown and February's devastating earthquake.
The lender sees 5% growth for this year, after a 1.5% contraction last year. Strong private consumption and large public and private investment, including in inventories, are expected to sustain domestic demand growth.
Earlier this week, Chile's central bank hiked its benchmark lending rate again despite the strong peso and weaker-than-expected inflation. The key rate was raised by a quarter percentage point to 3%. This marks the sixth straight rate hike and follows a 25 basis points move in October.
The central bank said it will continue to reduce the current monetary policy stimulus
For the full document click the link below:
Chile: Economic Growth Seen Improving In Q3
Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies.