Peru Economic Activity

Peru

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.

For 2014, the Central Bank sees the economy expanding 6.2%. LatinFocus Consensus Forecast panelists expect GDP to expand 5.2% in 2014, which is down 0.2 percentage points from last month’s projection. For 2015, the panel expects the economy to grow 5.6%.


Author:, Economist

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Peru Economic Activity May 2014

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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