Peru: Economic activity decelerates further in January
March 14, 2014
In January, economic activity expanded 4.2% over the same month last year, which marked a deceleration compared to the 5.0% expansion tallied in December. According to the statistical institute, fishing was the only category among the 13 that make up the index in which economic activity contracted. Although the category does not account for substantial weight in the index overall, the large contraction was enough to drag the result down slightly. As a consequence of the annual deceleration, the trend continues to point downward with annual average growth in economic activity edging down from 5.0% in December to 4.8% in January, and now sits at its lowest level since May 2010. For 2014, the Central Bank sees the economy expanding 6.2%. LatinFocus Consensus Forecast panelists expect GDP to expand 5.5% in 2014, which is unchanged from last month's projection. For 2015, the panel expects the economy to increase 5.5%.