According to preliminary information, last September's Imacec fell 0.4% over the same month a year before (figure 1). The seasonally-adjusted series rose 0.2% with respect to the previous month and fell 0.3% in twelve months. The month came with one working day less than September 2021. 

These results were explained by the drop in trade and manufacturing industry, an effect partially offset by services (figure 2). Seasonally adjusted Imacec growth was determined by the performance of the services sector (figure 3).

The non-mining Imacec posted a drop of 0.2% in twelve months, while in seasonally adjusted terms it grew 0.2% with respect to the previous month.

Imacec analysis by activity

1. Goods production

The production of goods grew 0.1%, driven by the performance of the Other goods activity, particularly by the increase in the added value of electricity generation. In contrast, manufacturing industry and mining dropped 4.4% and 0.1%, respectively.

In seasonally-adjusted terms, goods production grew by 0.5% compared with the previous month.

2. Trade

Trade activity presented a 10.2% decrease, determined by all its components. Worth noting was the drop in retail sales in supermarkets, department stores and specialized clothing, footwear, and household equipment establishments. On the wholesale side, lower sales of machinery and equipment, food and beverages explained the results.

Meanwhile, seasonally adjusted figures showed an increase of 0.8% with respect to the previous month.

3. Services

Services rose 2.9%, due to the performance of personal services, especially education. The contribution of transportation also stood out.

In seasonally adjusted terms, service activities grew 0.4% with respect to the previous month. This result was influenced by cultural and leisure related activities.

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 said dissemination calendar, this year’s preliminary first-quarter GDP results will be published next Friday 18 November.