Chilean GDP grows 3.3% y/y in Q3
Chile's Gross Domestic Product (GDP) expanded 3.3% year-on-year during the third quarter of 2019, beating the 3% consensus forecast, CEEMarketWatch reported citing figures released by the central bank BCCh. The solid performance of the local economy was partially explained by the two extra working days in this year's Q3, which added 0.3% to the result.
The economic growth was also driven by final consumption which rose 2.8% y/y, improving by 0.5% compared to the previous quarter. Gross fixed capital formation also increased by 0.6% to 5.9% y/y expansion. Country's net trade contributed 0.9% to GDP's growth during the quarter thanks to the sharp improvement of exports which swung from 4.3% y/y decrease in Q2 to 1.4% y/y hike in Q3.Original source: CEEMarketWatch