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Chile Economy at 8-Year Low

Chile Economy at 8-Year LowChile Economy at 8-Year Low

Chile’s economic activity in February slid 1.3% from a year ago, the central bank said Wednesday, its worst performance since the 2009 financial crisis, largely due to a strike at a major copper mine. The IMACEC economic activity index—equivalent to some 90% of the economy—came in broadly in line with a Reuters forecast for a slide of 1.2%. The reading was dragged down by an around 17% fall in mining activity. Escondida, the BHP Billiton operated copper mine in northern Chile that is by far the world’s biggest, was halted the entire month due to a strike.

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