Economy of Chile falls by 3.1% in January, 2021

The Central Bank of Chile (Banco Central de Chile) has stated that the economy of Chile fell by 3.1% in January 2021, as compared to the same month last year. 

Data from the Monthly Indicator of Economic Activity (IMACEC) shows this decrease is due to the fall in service activities and the production of goods, which was partially offset by the dynamism of trade. Services showed a 6.3 percent fall, mainly due to poor performance in the transportation, restaurant and hotel sectors, cultural and leisure activities, and business services, all of which were hit by the effects of the Covid-19 pandemic. 

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