Peru Economic Activity


Economic activity decelerates in August

In August, economic activity expanded 2.6% over the same month last year, which was below the 3.3% increase tallied in July. According to the Statistical Institute, the expansion in August was mainly driven by growth in the mining and commerce sectors. In contrast, the construction and manufacturing industries tallied losses in August.

A month-on-month comparison showed that economic activity decreased a seasonally-adjusted 0.1% in August, which was below the flat reading observed in July.

Despite the deceleration in economic activity, the growth trend gained momentum. Annual average growth in economic activity increased slightly from 2.1% in July to 2.2% in August.

The panelists who participated in this month’s LatinFocus Consensus Forecast survey expect GDP to expand 2.8% in 2015, which is down 0.1 percentage points from last month’s projection. For 2016, the panel expects the economy to grow 3.6%, which is down 0.2 percentage points from last month’s estimate.

Author:, Economist

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Peru Economic Activity Chart

Peru Economic Activity August 2015

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

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