Peru Economic Activity September 2016


Peru: Economic activity decelerates but remains on solid footing in September

In September, Peruvian economic activity expanded 4.1% over the same month last year, which was below the 5.5% increase seen in August but marginally overshot market expectations of 4.0% growth. The sustained expansion of national production has been largely driven by solid external demand for traditional Peruvian goods, according to the Statistical Institute.

Growth in economic activity was supported by expansions in all sectors, with the exception of construction activity, which contracted in September. The mining and hydrocarbon sectors contributed strongly to the expansion. Within the mining sector, copper showed the strongest growth and within hydrocarbon output, natural gas extraction offset the steep contraction observed in petroleum production. In addition, services across the range showed healthy increases.

On average, in the 12 months up to September, economic activity increased 4.3%, which matched August’s reading, the highest figure in over two years.

The panelists who participated in this month’s LatinFocus Consensus Forecast survey expect GDP to expand 3.8% in 2016, which is unchanged from last month’s projection. For 2017, the panel expects the economy to grow 4.2%, which is unchanged from last month’s Consensus.

Sample Report

Looking for forecasts related to Economic Activity in Peru? Download a sample report now.


Peru Economic Activity Chart

Peru Economic Activity September 2016

Note: Year-on-year changes of economic activity and annual average growth rate in %.
Source: Peru National Statistical Institute (INEI) and FocusEconomics calculations.

Peru Economic News

  • Peru: GDP growth accelerates in Q3

    November 24, 2016

    Peru’s economy accelerated in the third quarter and grew 4.4% on an annual basis, which overshot LatinFocus participants’ expectations of 3.7% and was above Q2’s 3.7% increase.

    Read more

  • Peru: Central Bank holds interest rate at 4.25% in November

    November 10, 2016

    The Central Bank decided to maintain the reference rate at 4.25% for the ninth consecutive month at its 10 November monetary policy meeting, in line with market expectations.

    Read more

  • Peru: Business sentiment cools in October

    November 5, 2016

    The business confidence indicator came in at 60.8 points in October, according to the Central Bank.

    Read more

  • Peru: Trade surplus edges down in September

    November 4, 2016

    In September, the trade balance recorded a USD 20.3 million surplus, which came in below the trade surplus of USD 30.4 million registered in August but was a notable upswing from the USD 410.3 million deficit recorded in the same month last year. The Central Bank reported that exports had increased 18.0% annually in September (August: 5.2% year-on-year), which was the fastest rise in almost four years.

    Read more

More news

Search form