Chilean Economy, it’s your week!

Chilean Scene

Kicking off September, Chile’s long-awaited Bicentennial month, are some superbly positive economic figures which, with the massive upcoming purchases of beef, coca-cola, and pisco, accompanied by the general increase in national joviality, are sure to continue showing strength.

The Center of SANhattan

Publications such as Bloomberg and the San Francisco Chronicle posted articles today stating that Chile’s economy surpassed all expectations and grew at a strong 7.1% in July as compared to last year (driven by transport, communications, and energy industries), mentioning that Chile has the lowest benchmark interest rate in all of Latin America of only 2%.

Reuters also jumped on the Chilean bandwagon, publishing that the country doubled prior expectations of a 0.65% IMACEC (Índice Mensual de la Actividad Económica, Monthly Index of Economic Activity) growth, ending with a solid 1.3%.

In lieu of the positive economic climate, the Chilean peso recorded it’s 5th consecutive week of growth, outpacing six other Latin American countries and balancing at $497.50 pesos to the US Dollar.  As the economy continues to expand, the peso is sure to keep increasing and thus reinforcing the national economic strength.

Finally, among other news, MarketWatch reports the increase in Chilean copper trading value, now weighing in at $3420/lb, which is considered one of the best indicators of the state of the Chilean Economy.

With these numbers and the miracle of the miners, the September 18th celebrations will be all the more merry.

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