Chile’s Industrial Output Drops 4.4%

Chile’s industrial production fell 4.4% in September, year on year, and sales contracted by 1.5, compared with the same month last year, according to Chilean federation of industry, Sofofa. The decline was the largest since March 2002. Meanwhile, industrial output for the nine months through September rose to 2.3% in September, and industrial sales were up 3.4%. Sofofa estimates industrial output will reach 3% this year.