According with preliminary information, last March the Imacec rose 7.2% over the same month a year before (figure 1). The seasonally-adjusted series rose 1.6% with respect to the previous month, and 8.5% in twelve months. March 2022 came with the same number of working days as March 2021.

The Imacec result was mainly explained by increased services activities, while goods production dropped, affected mainly by the mining and other goods components (figure 2).

The seasonally-adjusted Imacec owed to all its components, most notably mining dynamism (figure 3).

Imacec analysis by activity

1. Goods production
Goods production fell 1.5%, a result explained by mining and other goods, with drops of –2.4% and –1.1%, respectively, while the manufacturing sector grew 3.3%.

In seasonally-adjusted terms, the production of goods grew 3.9% compared with the previous month. This result was determined by increases in all its components, particularly mining.
 

2. Trade
Trade activity grew 8.6%, mainly driven by retail and wholesale sales of clothing, footwear and household equipment and, to a lesser extent, by automobile sales.

The seasonally-adjusted figures show an increase of 0.5% with respect to the previous month, owing mainly to the performance of wholesale trade.
 

3. Services
Services grew 12.2%, driven by the performance of personal services. Transportation and entrepreneurial services also contributed to this result.

In seasonally-adjusted terms, services activities rose 0.7% since the previous month.

Considering the challenges posed by the sanitary crisis 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 the 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 practice historically, which will be disseminated according to the calendar of National Accounts publications and revisions available on the Bank’s website www.bcentral.cl.

In accordance with to said dissemination calendar, this year’s preliminary first-quarter GDP results will be published next Wednesday 18 May.