Chile Economy Posts Fastest Growth Since 2021 as Consumption Powers Recovery

-- Chile’s economy recorded the fastest quarterly growth since 2021, when government stimulus fueled domestic demand during the pandemic, as both mining output and consumption increased while slowing inflation and falling interest rates provided much-needed relief.One of the Last Big Bears on Wall Street Turns Bullish on US Stocks

On the other hand, housing construction permits, a key gauge of activity in the real estate sector, are near a historic low, according to Chile’s National Statistics Institute. Unemployment remains above pre-pandemic levels, at 8.7%. Furthermore, some factors behind recent economic growth, such as electricity generation, may prove to be temporary.Both traders and economists surveyed by the central bank expect the monetary authority to deliver a half-point rate cut this week.

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American automakers and their Chinese rivals are heading in different directions. Able to produce far more cars than they can sell in China, Chinese companies like BYD are entering markets all over the world. Their global expansion comes as major U.S. carmakers - whose once-lucrative China sales are withering - have withdrawn from promising markets such as India, Indonesia and Thailand to focus on their North American base.

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