Peru: Economic activity decelerates in August
October 28, 2015
In August, economic activity expanded 2.6% over the same month last year, which was below the 3.3% increase tallied in July. According to the Statistical Institute, the expansion in August was mainly driven by growth in the mining and commerce sectors. In contrast, the construction and manufacturing industries tallied losses in August.
A month-on-month comparison showed that economic activity decreased a seasonally-adjusted 0.1% in August, which was below the flat reading observed in July.
Despite the deceleration in economic activity, the growth trend gained momentum. Annual average growth in economic activity increased slightly from 2.1% in July to 2.2% in August.
Author: Carl Kelly, Economist