CHILEAN HOUSEHOLD SPENDING TO RISE.A gradual improvement in consumer confidence coupled with increasing availability of consumer credit during the second half of 2003 has set the stage for increased household expenditure during the first half of 2004. Retail sales rose approximately 3.5 percent during 2003 and growth should approach 5 percent this year. The free trade agreement with the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. goes into effect this month. Effective immediately, 87 percent of Chilean exports to the United States will be duty exempt. Exports to the United States amounted to about 17 percent of the total during 2003 but should top 20 percent in 2004. The pace of growth in Chilean industrial activity began to pick up during the second half of 2003 and should continue to rise throughout 2004. As a result, orders for industrial inputs should rise in excess of 10 percent year-on-year as 2004 progresses. Capital expenditure should rise at a slightly higher pace, with gains in the range of 10 to 15 percent through the first half of the year. Increased consumer confidence and improved credit terms Credit Terms The conditions under which credit will be extended to a customer. The components of credit terms are: cash discount, credit period, net period. on high-ticket high-tick·et adj. Informal Very expensive: "developing a boundless appetite for high-ticket travel" Eileen Keerdoja. Adj. 1. items contributed to a more than 16 percent increase in auto sales Auto Sales The major producers of domestic automobiles report sales monthly. These numbers are seasonally adjusted by the U.S. Department of Commerce and are available to the public one to five business days after the end of each month. during 2003. The pace of growth should remain healthy, but slacken slack·en tr. & intr.v. slack·ened, slack·en·ing, slack·ens 1. To make or become slower; slow down: The runners slackened their pace. Air speed slackened. 2. a bit during 2004, with sales volume rising in the range of 10 to 15 percent. Interest rates should remain at near record low levels through at least the first quarter of this year. Rising demand for Chilean goods both at home and abroad should contribute to an overall increase in private sector expenditure approaching 10 percent in 2004. Growth in industrial expenditure will outpace out·pace tr.v. out·paced, out·pac·ing, out·pac·es To surpass or outdo (another), as in speed, growth, or performance. outpace Verb [-pacing, household expenditure through most of the year. |
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