Peru: Economic activity decelerates in May
July 17, 2015
In May, economic activity expanded 1.2% over the same month last year, which was well below the 4.3% increase tallied in April. According to the Statistical Institute, the expansion was mainly driven by growth in the commerce, financial services and mining sectors. However, contractions in the construction and manufacturing industries were behind the deceleration in May.
A month-on-month comparison showed that economic activity decreased a seasonally-adjusted 1.5% in May, which contrasted the 1.0% increase observed in April and marked the weakest result in nearly six years.
Given the slowdown in economic activity, the growth trend decreased. Annual average growth in economic activity ticked down from 1.7% in April to 1.6% in May.
Author: Carl Kelly, Economist