Chilean economy grew 3.2% in 2008

SANTIAGO.- According to information released by the Central Bank today, the Chilean economy grew by only 0.2% during the fourth quarter of 2008, closing the year out with an overall expansion of 3.2%.

The figures are lower than market projections, which had forecasted that the GDP would increase by 1.1% during the last quarter, with overall growth of 3.4% for the entire year of 2008.

"In quarterly terms, GDP growth spiked during the first three quarters and then slowed down in the fourth, reflecting the impact f the international crisis", announced the financial entity.

Meanwhile, the Central Bank indicated that the new growth estimate for the GDP ended up equal to 4.6% for 2006, implying 2-tenths of a point correction to the figure that was originally announced.

The figure for 2007 was lowered by four tenths –with regards to the previously published rate- ending at 4.7%.