We continue to believe that the next several years will see Chilean real GDP growth trend lower as Chinesecopper demand growth trends lower, weighing on Chilean exports and investment. We also see domesticdemand trending lower in 2013 and 2014, mostly on easing investment and relatively less robust growth inprivate consumption. Indeed, a steady, multi-year decline in retail sales since 2010 leads us to believe thatthe Chilean consumer is entering a period of slower growth.Headline Industry Data (local currency)? 2013 per capita food consumption value = +5.2%; forecast compound annual growth rate (CAGR) to2017 = +5.3%.? 2013 alcoholic drinks value sales = +6....
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