FX.co ★ Chile Economic Activity Contracts Again

Chile’s IMACEC economic activity index fell 0.9% year-on-year in May 2026, posting its fifth consecutive monthly contraction, though the decline was milder than April’s 1.2% drop. Goods-producing sectors shrank 4.7%, driven by a sharp 11.6% fall in mining output—particularly copper—and a 1.7% decline in manufacturing, while production of other goods was flat. In contrast, services activity expanded 1.0%, supported by stronger personal services, especially in health and education, which partially offset weaker business and transport services. Trade activity rose 0.8%, mainly on the back of retail and automotive sales. On a seasonally adjusted basis, overall economic activity slipped 0.2% month-on-month in May, reversing the 0.1% increase recorded in April.