Studies in Economic Statistics N° 131: Revisiones en cuentas nacionales trimestrales Chile 2006-2019
IMACEC
.
The Monthly Economic Activity Index (Imacec) is an estimate that summarizes the activity of the different branches of the economy in a given month, at prices from the previous year; its inter-annual variation constitutes an approximation of GDP evolution. The calculation of the Monthly Economic Activity Index is based on multiple supply indicators, which are weighted by the share of economic activities in the previous year’s GDP.
The Monthly Economic Activity Index is published on the first business day of each month taking into account a lag of 31 days in relation to the month being measured. In addition to this, a breakdown is published which distinguishes mining from all other activities —mining and non-mining series—, as well as the series at factor cost. All series are presented in both original and seasonally adjusted figures.
Consistent with the established publication policy, the Monthly Economic Activity Index series are revised along with the quarterly and annual national accounts.
.
September 2025’s monthly index of economic activity, Imacec
According to preliminary information, last September the Imacec grew 3.2% compared with the same month the year before (Table 1). The deseasonalized series rose 0.5% with respect to the previous month, and 2.5% in twelve months. This year, the month came with two more working days than September 2024.
The Imacec result was mainly explained by growth in services and trade, which was partly offset by lower mining production (Figure 1). In turn, the increase in the deseasonalized Imacec was determined by mining and services (Figure 2).
Non-mining Imacec grew by 3.8% annually, while in seasonally adjusted terms it rose by 0.2% compared to the previous month and 3.1% in twelve months.
Imacec analysis by activity
1. Goods production
Goods production grew 0.5% annually, a result explained by manufacturing activity, particularly increased food processing. This effect was partially offset by mining and other goods, which posted drops of 2.2% and 0.3%, respectively. Mining was affected by lower copper ore extraction, while other goods saw a decline in the added value of electric power generation.
In deseasonalized terms, goods production rose by 0.4% compared to the previous month, in line with mining activity. precedente, en línea con la actividad minera.
2. Trade
Commercial activity rose by 10.8% annually. All components showed positive results, with wholesale trade being driven by higher sales of machinery & equipment and foods. Meanwhile, the automotive trade saw an increase in vehicle sales and maintenance services. In retail trade, sales grew in grocery stores, specialized clothing stores, and sales through online platforms.
Seasonally adjusted figures grew 1.0% compared to the previous month, mainly influenced by the results of wholesale trade.
3. Services
Services rose 3.3% year-on-year, driven mainly by the performance of entrepreneurial, personal, and transportation services.
Seasonally adjusted figures grew 0.5% compared to the previous month, driven by business services.
In accordance with the schedule of National Accounts figures release, preliminary GDP results for the third quarter of this year, as well as revisions to the first and second quarters, will be published next Tuesday, 18 November.
.
.
.
Related information
.
.