Industrial production had a negative July: -5.1%

Chile’s industrial production suffered a sharp annual decline in July, with the overall index falling 5.1% as mining and manufacturing activity weakened. The figures came one day before the Central Bank’s report on the Imacec economic activity indicator for the month.

Mining recorded the steepest contraction among the major sectors. The Mining Production Index fell 7.2% from a year earlier, reflecting lower activity in metallic mining, according to the National Statistics Institute, or INE.

Manufacturing also declined, dropping 4.9% over 12 months. The INE linked much of that fall to a 25.9% year-on-year decrease in the manufacture of coke and petroleum-refining products. Together, the mining and manufacturing figures drove the industrial result into negative territory.

Electricity, gas and water production provided the only positive reading, but its increase was limited to 0.3% compared with July 2025. Trade also weakened during the month, falling 0.2% year on year. Wholesale trade excluding motor vehicles and motorcycles led the decline, dropping 3.2%.

The broader trade picture remained uneven. The Trade Activity Index has accumulated a 3.3% increase during 2026, while supermarket sales at constant prices rose 2.1% year on year and posted a cumulative increase of 0.4% through July. Retail e-commerce was the strongest indicator, with sales at current prices rising 14.8% over 12 months.