Peru Economic Activity February 2016

Peru

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.

The panelists who participated in this month’s LatinFocus Consensus Forecast survey expect GDP to expand 3.5% in 2016, which is up 0.2 percentage points from last month’s projection. For 2017, the panel expects the economy to grow 3.9%.


Author: Marlène Rump, Senior Data Analyst

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Peru Economic Activity February 2016 0

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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