Peru: Economic activity continues losing steam in May
July 18, 2014
In May, economic activity expanded 1.8% over the same month last year, which was below the 2.0% rise tallied in April. May’s result marked the weakest increase since October 2009. According to the statistical institute, the deceleration was driven by contractions in mining and manufacturing. In contrast, the services, construction and commerce sectors tallied gains.
A month-on-month comparison showed that economic activity decreased a seasonally-adjusted 0.7% in May, which contrasted the 0.8% increase observed in April.
The annual deceleration caused the trend to moderate further. Annual average growth in economic activity decreased from 5.3% in April to 5.1% in May.
Author: Carl Kelly, Economist