Chile’s industrial production grew by 3.5pc in October due to growth in its manufacturing and mining outputs, rising for the second consecutive month, according to media reports citing data released by the National Institute of Statistics (INE).
The country’s industrial output is better than expected as the economic effects of the COVID-19 pandemic due to restrictions and lockdowns had contracted the growth.
Chile’s manufacturing production in October grew by 6.2pc from the preceding year, while mining production rose by 2.2pc from the prior year given the rise in metal outputs.
Copper production
Even though the overall metal output increased in October, the country’s copper output fell slightly by 0.2pc to 492,761mt as compared to the preceding year.
In the Jan-Oct period, Chile’s copper production stood at 4.8mn mt, up by 0.4pc from the prior-year period despite the COVID-19 pandemic impacts hindering the country’s economy.