Country Economic Forecasts - Chile
Activity grew at the robust pace of 3.3% y/y in July and we expect growth momentum to fluctuate around this level during the rest of the year. We retain our above-consensus forecast of 4.1% GDP growth for 2018. Both consumption and investment are set to remain strong, with the former up 4.1% and the latter surging 5.7%, while net trade may drag on aggregate demand. A cyclical ‘boom’ looks well-established and we expect robust growth of around 3% in 2019.