Chile's economic activity posts unexpected January drop on lower goods production

March 2 (Reuters) - Chile's economic activity fell 0.1% in January from a year earlier, central bank data showed on Monday, weighed down by a decline in goods production, including in the key mining sector.

The IMACEC economic activity index landed way below market forecasts, as economists polled by Reuters expected a 1.1% expansion, and slowedsharply from the 1.7% increase reported in December.

Goods production posted a 1.5% annual drop in January, the central bank said, with the mining sector in the world's largest copper producer shrinking 1% amid lower output of the red metal.

Trade and services activity rose 0.4% and 1.4%, respectively.

The IMACEC index, which accounts for about 90% of the Andean country's gross domestic product, rose 0.2% on a monthly basis, the central bank added.

"Absent a renewed boost from copper or a sharper pickup in capex, growth likely will remain moderate in the near term," Andres Abadia, Pantheon Macroeconomics' chief Latin America economist, said in a note to clients. (Reporting by Aida Pelaez-Fernandez; Editing by Gabriel Araujo)