PREVIEW-Chile industrial output seen down in September

Tue Oct 27, 2009 12:19pm EDT
 
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* Sept industrial output seen down 3.2 pct from year ago

* 3rd qtr jobless rate expected to ease to 10.6 pct

* Data released Thursday at 9 a.m. (1300 GMT)

By Maria Jose Latorre

SANTIAGO, Oct 27 (Reuters) - Chile's industrial output is expected to have fallen for a 12th consecutive month in September year-on-year, while the jobless rate likely eased in the July-September period, according to a Reuters poll.

The median outlook in the poll of economists and analysts was for a 3.2 percent fall in industrial production in September compared with the same month last year, an improvement from the 3.8 percent decline in August and 7.4 percent tumble in July.

"This was among the hardest hit sectors by the recession and it's also one of the sectors that has most benefited from the economic stimulus," said Alfredo Coutino, Latin American director at Moody's Economy.com.

The impact of the global recession on the Chilean economy led the government to put in place a $4 billion fiscal stimulus program and the central bank to slash the benchmark lending rate to a record-low 0.5 percent.

The jobless rate probably fell to 10.6 percent in the third quarter, down from a five-year-high of 10.8 percent during the three-month periods ending in July and August, the survey found.

Chile's central bank projects economic contraction of 1.5 to 2 percent in 2009 and growth of 4.5 to 5.5 percent for 2010.

The government statistics agency will release the data for industrial output and unemployment on Thursday at 9 a.m. (1300 GMT). (Writing by Aaron Nelsen; Editing by James Dalgleish)

 

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