Chilean economy grew 4.3% in second trimester

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SANTIAGO.- According to an announcement made by the Central Bank, the Chilean economy grew by 4.3% during the second trimester of 2008 when compared to the same time period during 2007.

This year's trimester included one business day more than last year, giving a "calendar effect" of 0.2%.

In seasonally adjusted terms, activity rose 1.8% compared to the first trimester of the year, while the annual cycle tendency reported a rise of 5.5%.

The GDP for the first trimester of 2008 was 3.3%, while the growth rate for the economy during the second trimester of last year was reportedly 6.2%.

Construction, Communications, Fishing and Forestry were designated as the most dynamic activities, followed by Trade, restaurants and hotels, which displayed a more moderate expansion figure.

Proportionally, Construction contributed most to the final result, followed by Trade, restaurants and hotels; Transport and Forestry.

Electricity, gas and water (EGW) and Mining both registered growth reductions.  The former was listed as the sector with the most significant drop although the slip reported within Mining had more of an impact on the final result. The central bank also indicated weak performance within the Industrial sector, which registered a growth rate of only 0.1%.