According to preliminary information, last October the Imacec dropped 1.2% from the same month a year before (figure 1). The seasonally adjusted series gained 0.5% with respect to the previous month, and dropped 0.8% in twelve months. The month came with one more working day than October 2021.

The Imacec result was explained by the drop in trade, followed by the manufacturing industry (figure 2). The Imacec increase in de-seasonalized terms was determined by the performance of mining (figure 3).

The non-mining Imacec posted a drop of 1.8% in twelve months, and a drop of 0.4% in seasonally adjusted terms with respect to the previous month.

Imacec analysis by activity

1. Goods production

The production of goods grew 0.7%, explained by a 1.7% increase in mining, partly offset by a 5.0% drop in manufacturing. The Other goods category recorded no variation.

In seasonally-adjusted terms, goods production posted a 1,8% growth from the previous month.

2. Trade

Trading activity showed a decrease of 10.3%, a result driven by both retail and wholesale trade. These two sectors saw generalized declines in all of their components. Retail trade was affected by reduced sales in department stores and supermarkets, while wholesale trade reflected drops in raw materials, foods, beverages, and machinery & equipment.

Meanwhile, the seasonally adjusted figures rose 0.4% from the month before.

3. Services

Services grew 0.9% determined by entrepreneurial services, followed by transportation.

The seasonally adjusted figures showed a 0.6% drop with respect to the previous month.

Considering the challenges that the sanitary 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 worth noting that the figures delivered on this occasion may be subject to greater revisions than has been the case historically, which will be disseminated according to the calendar of National Accounts publications and revisions available on the Bank's website www.bcentral.cl