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Chile's economy grows 2.2% YOY in Q3

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Chile's economy grows 2.2% YOY in Q3

The Chilean economy grew 2.2% in the third quarter of 2017 compared with the same period a year ago, according to a report by Banco Central de Chile, up from a growth of 0.1% and 1.0% in the first two quarters of the year, respectively.

In seasonally adjusted terms, the gross domestic product registered an increase of 1.5% compared to the previous quarter, the regulator said.

The quarterly growth was led by positive trends in Chile's mining sector, followed by growth in personal services and commerce. This was offset by a contraction in construction activity, which registered the highest negative impact, the central bank noted.

Meanwhile, domestic spending increased 2.5%, with household and government-driven consumption ticking up as well as investments.