According to preliminary information, last June the Imacec rose 20.1% over the same month a year before (figure 1). The seasonally-adjusted series rose 2.1% with respect to the previous month, and 20.4% in twelve months. June 2021 came with one less working day than June 2020.

Every Imacec component increased with respect to the same period last year, with the contribution of services activity standing out figure 2). This result was partly explained by the lower comparison base of June last year and the better adaptation of households and firms to the Covid-19 sanitary emergency measures.

In turn, the seasonally-adjusted Imacec posted a generalized increase in its components (figure 3).

Imacec analysis by activity

1. Goods production
The 13.2% increase in goods production was explained by the grouping “other goods”, which rose 21.8%, associated to the performance of construction. To a lesser extent, the 18.8% increase in manufacturing industry also played a part. In contrast, mining posted a 0.5% drop.

In seasonally-adjusted terms, goods production rose 2.0% with respect to the previous month, driven by growth in every component, most notably manufacturing and other goods.

2. Trade
Wholesale and retail trade activity rose 46.4%, fueled by all its component, and influenced by the household-support economic measures and the partial withdrawal of pension funds.

Accordingly, the seasonalized figures show a 2.0% increase with respect to the previous month.

3. Services
Services grew 17.8%, owing mainly to the performance of personal services, particularly health care and education. The result was also explained by the somewhat lesser contribution of entrepreneurial services, restaurants & hotels, and transportation.

In seasonally-adjusted terms, services activities posted an increase of 2.3% over the previous month.

Considering the challenges that the health crisis has imposed on the collection of basic data, the Central Bank of Chile has made extra efforts with its information providers to minimize the impact on the quality of statistics. However, it is relevant to point out that the figures delivered on this occasion could be subject to greater revisions than has been the case historically, which will be disseminated in accordance with the National Accounts publications and revisions calendar available on the Bank’s website, www.bcentral.cl

As per said dissemination calendar, the second-quarter 2021 preliminary GDP results, together with first-quarter revisions, will be published next 18 August.