Peru Economic Activity

Peru

Peru: Economic activity accelerates in June

August 24, 2015

In June, economic activity expanded 3.9% over the same month last year, which was well above the 1.1% increase tallied in May. According to the Statistical Institute, the expansion in June was mainly driven by growth in the mining, agriculture and commerce sectors. In contrast, the construction and fishing industries tallied losses in June.

A month-on-month comparison showed that economic activity increased a seasonally-adjusted 1.3% in June, which contrasted the 1.0% decrease observed in May and marked the strongest result in two years.

Given the acceleration in economic activity, the growth trend gained momentum. Annual average growth in economic activity increased from 1.6% in May to 1.9% in June.

The Central Bank sees the economy expanding 3.9% in 2015 and 5.3% in 2016. LatinFocus Consensus Forecast panelists expect GDP to expand 3.6% in 2015, which is down 0.5 percentage points from last month’s projection. For 2016, the panel expects the economy to grow 4.6%.


Author:, Economist

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Peru Economic Activity June 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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