{ "story_id": "013b2d79f8d93b914f2ecf5f45c35702", "desk": "drm3", "revision": 1, "published_at": "2026-09-02T16:43:50.000Z", "content_hash": "9947e26e2d68ec832ff66afcb99eb60662ee18e20f942ec7aa52861f1d3488c3", "hash_basis": "sha256 over `headline\\ndek\\nprose`, plus `\\n` + the canonical citations JSON when any source is placed, plus `\\n#blog` for blogs", "basis": { "headline": "Economist Alejandro Micco says Chile's -1.5% July IMACEC shows stagnation fueled by politics and expectations", "dek": "Economist Micco says Chile's 1.5% July IMACEC drop confirms stagnation, blaming politics and expectation mismanagement.", "prose": "Alejandro Micco, economist at the University of Chile and former Undersecretary of Finance, said in an interview with Cooperativa that the 1.5% drop in July 2026 IMACEC confirms Chile's economy is on a 'very strong stagnation trajectory', pointing to a weakened labor market and collapsed consumer and business confidence. [^1]\n\nChile's monthly economic activity index (IMACEC) fell by 1.5% year-over-year in July 2026. [^2]\n\nChile's economy contracted by 1.5% in July, representing the largest economic decline in five years according to the latest Imacec data released on Tuesday, September 2026. [^3]\n\nMicco criticized the Chilean finance minister for over-optimism after June 2026's 2.4% growth, saying 'the data were not as good as the minister believed and he sinned a bit of optimism'. [^4]\n\nMicco said business confidence remains depressed due to lack of broad consensus on key reforms and uncertainty over future fiscal policy, and he called for improved political governance and long-term agreements to address economic issues. [^5]\n\nAlejandro Micco explained that the drop in economic expectations is largely due to the increase in fuel prices in March, known as the 'bencinazo', which he described as a major economic shock. [^6]\n\nAlejandro Micco noted that while Chile has experienced mediocre growth since 2012, economic expectations at the start of the José Antonio Kast government were much higher due to a consensus for change. [^7]\n\nAlejandro Micco, an economist and former Undersecretary of Finance, stated that the root cause of the economic problem is the sharp drop in economic expectations. 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