May 31, 2018 / 6:07 PM / 7 months ago

UPDATE 1-Chile manufacturing output posts sharpest increase in seven years

 (Adds quotes, details)
    SANTIAGO, May 30 (Reuters) - Chilean manufacturing
production jumped 11.8 percent in April from a year
earlier, its sharpest increase since March 2011, government data
showed on Thursday, the latest sign of a strengthening economy
in the world's top copper producer.
    Output was boosted by strength in the food and chemical
industries, but also aided by three additional working days in
April 2018 versus a year earlier, according to the national
statistics agency INE.
    The steep rise in manufacturing comes shortly after
President Sebastian Pinera took office in March on promises to
revitalize the country's sluggish economy.
    "Manufacturing production posted a strong year over year
expansion ... we see a favorable {scenario]," said Finance
Minister Felipe Larrain, who was speaking to reporters on the
sidelines of the OECD conference in Paris.
    Full-year 2017 growth in Chile stood at 1.5 percent, one of
its lowest rates since the 2008 global economic crisis.
    Larrain, who is attending a meeting of the Organisation for
Economic Co-operation and Development, told Reuters earlier on
Thursday a wide range of sectors were showing signs of
improvement after Chile posted growth of 4.2 percent in the
first quarter of the year.
    Manufacturing production was well above a Reuters poll
forecast for an 8.9 percent increase.  
    All figures in percent:
    
                  April   Reuters   March    April
                   2018     poll     2018    2017
 Month-on-month    +1.5      --      -0.2    -1.4
 change                                     
 Year-on-year     +11.8     +8.9     -2.3    -7.8
 change                                     
 
 (Reporting by Santiago Newsroom, writing by Dave Sherwood,
Editing by Chizu Nomiyama and Diane Craft)
  
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