News Feed » Chile Economy http://www.news-feed.com Current and updated news feed covering the U.S. and the rest of the World Sun, 05 Feb 2012 15:16:42 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Hard Times In Chile http://www.news-feed.com/2009/09/08/hard-times-in-chile/ http://www.news-feed.com/2009/09/08/hard-times-in-chile/#comments Tue, 08 Sep 2009 21:02:51 +0000 admin http://www.news-feed.com/?p=990 Chile, South America’s fifth largest economy, has certainly not been spared by the effects of the global recession. Chile’s Central Bank reported yesterday that the country’s GDP shrank 2.7% in the twelve months through July, recording its ninth consecutive year-on-year contraction.

This news comes just about three weeks after Chile announced that its second quarter GDP declined by 4.5%, compared to the same period a year ago, the largest fall-off in twenty years! Chile’s economy has been plagued by weak demand which led to the reduction in prices for its exports.

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