Chile's economic activity sees biggest plunge in decade

Source: Xinhua| 2019-12-03 10:16:36|Editor: yhy
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SANTIAGO, Dec. 2 (Xinhua) -- Chile's economic activity in October fell 3.4 percent year-on-year, registering the largest decrease since the 2008 global financial crisis, the Central Bank of Chile said on Monday.

The fall in economic activity, which takes into account production, distribution and consumption of goods and services, was worse than financial analysts have anticipated due to the social unrest that has gripped the country since mid-October.

Economic activity in October fell 5.4 percent from September.

In the productive sectors, mining activity grew 2 percent in the period, while non-mining activity plunged 4 percent.

In the services sector, a range of areas registered a decrease in activity, including education, transportation, business services, restaurants and hotels. The construction sector picked up slightly.

Chile has been roiled by anti-government protests since a hike in subway fares in Santiago unleashed nationwide discontent with the cost of living, and a lack of services and opportunities.

Demonstrators have been demanding better wages, pensions, healthcare and education. Protest marches and work strikes have disrupted normal economic activity.