(Bloomberg) – Chile’s unemployment rate fell in September for the sixth month in a row and retail sales rose, adding to growing evidence of recovery in one of Latin America’s richest economies.
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Unemployment fell 0.1 percentage point to 8.4% in the three months through September, but fell short of the median of estimates in a Bloomberg survey of 8.3%, the National Institute of Statistics reported Friday. The labor force grew 13.3% in the month while the number of unemployed people decreased.
Retail sales increased 19.9% compared to September 2020, which contrasts with the projection of 21.2%, while the manufacturing sector grew 4.3% and industrial production contracted 0.7%.
Chile’s economy will expand to 11.5% in 2021, the fastest growth on record dating back 60 years, according to the central bank. Government aid and early pension fund withdrawals have spurred demand. However, the authorities reimposed some restrictions in Santiago this week due to an increase in coronavirus cases.
In the future, a possible fourth withdrawal of pension funds that legislators are debating could inject up to US $ 20 billion into the economy, according to estimates by the Ministry of Finance. The bill has already been approved by the Chamber of Deputies and will now be discussed in the full Senate.
Nota Original:Chile Unemployment Falls for Sixth Month as Economy Recovers
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