Peru Economic Activity

Peru

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.

The Central Bank sees the economy expanding 4.8% in 2015 and 6.0% 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 March 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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