The Chilean economy grew by 6.4% year-on-year in May supported by service activities, reported on Friday the Banco Central.
The Monthly Indicator of Economic Activity (Imacec), which represents about 90% of the Gross Domestic Product (GDP) of the South American country, fell 0.1% in seasonally adjusted terms compared to April.
The market expected a 5.2% increase in Imacec in the fifth month, which registered two more business days than May 2021.
Services grew 11.9%, a result explained by the performance of personal services, particularly education. Transport and business services also contributed to the result,” the agency said in a note.
Compared to the previous month, according to seasonally adjusted figures, service activities varied -0.1 percent.
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