Peru: Economic activity accelerates in March, overall trend continues downward slide
May 15, 2015
In March, economic activity expanded 2.7% over the same month of the previous year, which was much stronger than the 0.9% increase tallied in February and marked the fastest expansion in six months. According to the statistical institute, the expansion was mainly driven by growth in the mining, commerce, and financial services sectors. In contrast, the manufacturing industry registered contractions.
Despite the acceleration in economic activity, the growth trend moderated further. Annual average growth in economic activity decreased from 1.8% in February to 1.6% in March, which marked the lowest point in over five years.
Author: Carl Kelly, Economist