Chile's Economy Contracts in Q2 2024

Chile's GDP fell by 0.6% in Q2 2024 compared to the previous quarter, according to the central bank. The economy saw a 1.6% annual growth in the same period, slightly below economists' expectations of 1.8%.

Chile's Gross Domestic Product (GDP) saw a decline of 0.6% in the second quarter of 2024 compared to the first quarter, as reported by the central bank on Monday. This downturn aligns with market forecasts.

Year-over-year, the Andean nation experienced a GDP growth of 1.6% during the same period. However, this growth was below the 1.8% prediction made by economists surveyed by Reuters.

The latest figures highlight the economic challenges Chile faces amidst global uncertainties.

(With inputs from agencies.)