The Central Bank reported this Tuesday that in the second quarter of the year the economic activity fell 14.1% with respect to the same period of the previous year.
The figure compares unfavorably with the 0.2% expansion registered in the first quarter; and the published value was slightly worse than expected, as the market projected it to be only -14%.
Its about worst record since the economic crisis of 1982 (from when the Gross Domestic Product -GDP- was -13.6%) and from the official data dating from 1986.
“This current result (-14.1%) was affected by the health emergency associated with covid-19, which influenced the mobility of people and the normal operation of productive establishments,” detailed the issuing institute in the Accounts report Nationals of Chile for the second quarter of 2020.
The activities most affected were personal services, commerce, transportation, construction, restaurants and hotels, manufacturing industry and business services.
“From the spending perspective, these effects were reflected in a lower consumption of households and in investment ”, added the BC.
The BC specified that the quarter had one business day less than the same period of the previous year, “resulting in a calendar effect equal to -0.1 percentage points.”
From the perspective of origin, “all the activities presented falls with the exception of mining, financial services and public administration ”.
GDP fell 13.2% compared to the previous quarter, a result that was explained by contractions in most activities: personal services, construction, commerce and transportation were the hardest hit and the ones that had the greatest impact on this scenario.
“By contrast, mining was the only activity with positive figures, although with a lower dynamism than that of the previous quarter ”, indicated the BC in its report.
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