Chile March Economic Growth Is Fastest Since 1998

[Quetzal]

Chile March Economic Growth Is Fastest Since 1998 (Update1)

May 5 (Bloomberg) -- Chile's economy expanded in March at its fastest monthly rate in almost six years as manufacturers boosted output to keep pace with stronger sales at home and overseas.

The economy expanded an estimated 6.3 percent in March from a year earlier, after a 4.2 percent expansion in February, the Santiago-based central bank said. It was the fastest monthly growth since April 1998, when the economy expanded 7.35 percent.

The monthly figure, which takes into account almost all of the economic activity included in the gross domestic product, would bring first-quarter GDP growth to 4.5 percent, the fastest expansion since the second quarter of 2001.

Chile's economy is strengthening as demand for its exports climbs and after the central bank cut its benchmark lending rate to record low of 1.75 percent, bolstering demand at home.

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