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Chile's Economy Posts Biggest Drop in Decade as Protests Bite

Reuters

   SANTIAGO - Chile's economy contracted 3.4% in October from the same
   month a year ago, the central bank said on Monday, posting the single
   biggest drop in a decade as weeks of violent protests began sending
   shockwaves through the Chilean economy.

   Riots in Chile began on Oct. 18 over a hike in metro fares but quickly
   spiraled into mass protests, arson and looting that have left 26 dead
   and upwards of $1.5 billion in losses for businesses. The peso has
   plummeted to a historic low, prompting multiple central bank
   interventions.

   The IMACEC economic activity index, proxy for gross domestic product
   tallied on a monthly basis, fell 5.4% from September.

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