Chilean economy grows less than expected in November

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Monday, January 6, 2014

The growth of Chile's economy fell short of expectations in November when it expanded 2.8% year-on-year.

Analysts had expected the economy to grow in the 3.1-3.4% range and Credicorp Capital said in a research note that November's growth rate was the lowest since July 2011.

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The central bank (BCCH) said the country's economic performance in November had been driven by an increase in mining activity that was partly offset by a drop in manufacturing activity and weak performance by the wholesale commerce sector.

According to BCCH's preliminary growth figures, Chile's GDP increased 0.5% in seasonally-adjusted terms compared to October.