Peru: Economic activity accelerates in February
April 15, 2016
In February, economic activity expanded 6.0% over the same month of last year, which was above the 3.4% increase tallied in January. According to the Statistical Institute, the expansion in February was mainly driven by faster growth in the mining industry. Moreover, all sectors reported a positive development in February, with exception of fishing and manufacturing. February’s result came in close to the two-year high of 6.4% tallied in December.
On average over the last 12 months, economic activity expanded 3.8%, which was above January’s reading of 3.4%. The result was driven by a recovery in the mining sector as well as in the financial services sector, where credit expansion bolstered activity.