Peru Economic Activity December 2019

Peru

Peru: Economic activity closes 2019 on a sour note

February 17, 2020

In December, economic activity grew a puny 1.1% year-on-year, decelerating markedly from November’s already unremarkable 1.9% outturn and surprising market expectations on the downside. Therefore, economic activity in 2019 as a whole expanded 2.2%.

In terms of industries, December’s expansion was underpinned by healthy growth in the trade, agricultural, accommodation and restaurants and telecommunication sectors. Meanwhile, the manufacturing and construction sectors reported sizable drops in the month, while production in the fishing sector nosedived.

LatinFocus Consensus Forecast panelists expect GDP will expand 3.4% in 2020, which is unchanged from last month’s projection. For 2021, the panel sees the economy growing 3.5%.


Author: Massimo Bassetti, Economist

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Peru Economic Activity Chart


Peru Economic Activity December 2019

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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