Chile: Economic activity expanded 4.1% in second quarter 2013
The Chilean economy grew 4.1percent yoy in the second quarter of 2012. Internal demand increased 4.5 percent yoy during the same quarter. This growth was led by private consumption, which grew at a solid 7.0 percent yoy, slightly above the 6.8 percent increase in the first quarter of 2013. The current account of the balance of payments recorded a deficit of US$ 1.6 billion in the second quarter of 2013, equivalent to 2.4 percent of GDP. The solid dynamics of private consumption have been a crucial factor behind the decision to keep the monetary policy rate unchanged since January 2012.