UPDATE 2-Chile growth weakens further, downward risks continue

lunes 18 de agosto de 2014 13:25 GYT

* Q2 GDP +1.9 pct y/y, +0.2 q/q

* Q1 GDP revised down to +2.4 pct

* Central bank says economy weak across all sectors (Recasts, adds bullets, details, market reaction)

By Rosalba O'Brien

SANTIAGO, Aug 18 (Reuters) - Chile's gross domestic product grew at its weakest pace since 2009 in the second quarter as investment waned and a previously rapid expansion in consumer spending slowed, central bank data showed on Monday.

The economy of the world's top exporter of copper grew 1.9 percent in the second quarter compared with a year ago, or a seasonally adjusted 0.2 percent compared with the first quarter.

That implied annual growth of 2.2 percent for the first half, after the first-quarter reading was revised down to 2.4 percent from the bank's previous 2.6 percent estimate.

The annualized second-quarter figure was the worst performance for the economy since it contracted in the third quarter of 2009 at the height of the credit crunch.

It was not, however, a surprise. Chile's economy has been cooling rapidly as a downturn in mining investment has spread to other sectors. Domestic demand in the second quarter fell 0.9 percent compared with the first three months of 2014, the bank said.   Continuación...