SANTIAGO, Jan. 2 (Xinhua) -- Economic activity in Chile fell 3.3 percent in November compared to the same month of 2018, as widespread anti-government protests disrupted productivity, the Central Bank of Chile said Thursday.
According to the bank's report, the Monthly Economic Activity Index (Imacec) saw the mining sector hit particularly hard, with activity falling by 5.1 percent year-on-year.
Non-mining activity decreased 3.1 percent, dragged down by a fall in commerce and services, especially transportation, restaurants and hotels, but somewhat buoyed by construction and the manufacturing industry.
"We are in a difficult economic time, that has not changed," Finance Minister Ignacio Briones said, adding "It is a very significant drop" in the Imacec.
"We are redoubling our efforts to try as much as possible to moderate the impact of this crisis on the economy," Briones said.
November marked the second month in a row of depressed economic activity after the Imacec fell 3.4 percent in October.
Chile's government expects to see the economy shrink between 2.5 percent and 2.7 percent in the final quarter of the year, and approximately 1 percent economic growth in 2019, "far below the growth expectations we had before Oct. 18," when protests broke out, said Briones.
Previous growth estimates called for 2 percent to 2.5 percent expansion in gross domestic product.
In mid-October, Chileans took to the streets to protest a hike in subway fares in the capital Santiago, and demonstrations quickly spread throughout the country, fueled by anger at Chile's inability to distribute the country's wealth, leading to growing inequality.
