SANTIAGO, Feb 1 Reuters Chile39;s economy performed better than expected in December but still ended 2022 in negative territory as the world39;s largest copper producer faces a slowdown after a rapid postpandemic recovery, central bank data showed on Wednesday.

The country39;s key IMACEC economic activity index, a close proxy of gross domestic product GDP, fell 1.0 in December from the same month last year, Chile39;s central bank said a smaller drop than the 2.5 one forecast by economists polled by Reuters.

The negative yearoveryear figure came on the back of lower commerce and manufacturing activity results, although they were partially offset by a rise in service activities, according to the central bank.

That represented the fourth consecutive drop for the index, which accounts for nearly 90 of the South American country39;s GDP, leading it to post a 1 drop in the full year of 2022.

When compared with the previous month, however, the IMACEC index rose 0.4, the central bank added.

Reporting by Fabian Andres Cambero and Gabriel Araujo; Editing by Steven Grattan

Source Reuters