Commodities Buzz: Chile Economy Grows by 5.9 Percent in April 2018

Chiles economy grew by 5.9 percent in April, its best rate of expansion since 2012, the central bank said on Tuesday. The growth was driven by the expansion in manufacturing, trade and services sectors, according to the bank.

This was also a positive year-on-year result since the Chilean economy contracted by 0.5 percent in April 2017. Chiles key economic driver mining grew by 4.6 percent, helping the country beat growth expectations for the month, which had been set at 5.5 percent. However, Finance Minister Felipe Larrain dismissed the expansion as being down to the mining sector alone.