Chile economy grew 0.4pc

SANTIAGO: Chile's economic activity rose 0.4 percent in May from April, the central bank said on Tuesday, picking up the pace of growth from the prior month.

Year over year, the IMACEC indicator of economic activity in world top copper producer Chile rose 7.3 percent in May, rising from a 6.3 percent increase in April from a year earlier and outpacing market expectations for 6.8 percent growth.

The IMACEC rose 0.3 percent in April from March, the central bank said last month. The central bank calculates its month-on-month IMACEC data in seasonally-adjusted terms.

A monthly gauge IMACEC measures more than 90 percent of the components comprising Chile's gross domestic product which is published quarterly.

Copyright Reuters, 2011