Fitch Solutions Macro Research Vs. Consensus: Below Consensus On Chilean Growth

 

• Fitch forecast Chile’s real GDP growth of 1.1% y-o-y in 2020, as economic disruptions due to widespread protests and reduced investment resulting from heightened political uncertainty weigh on economic activity.
• The forecast is markedly below the Bloomberg consensus estimate of 2.1%.
• Consensus has moved downward in recent weeks and will likely continue to do so as higher frequency data prints begin to reveal the extent of the contraction caused by the social upheaval that started in October 2019.

(Source: Fitch)