Peru: Economic activity decelerates slightly in July
September 21, 2015
In July, economic activity expanded 3.3% over the same month last year, which was slightly below the 3.9% increase tallied in June. According to the Statistical Institute, the expansion in July was mainly driven by growth in the mining and commerce sectors. In contrast, the construction and manufacturing industries tallied losses in July.
A month-on-month comparison showed that economic activity decreased a seasonally-adjusted 0.1% in July, which contrasted the 1.3% increase observed in June.
Despite the modest deceleration in economic activity, the growth trend gained momentum. Annual average growth in economic activity increased from 1.9% in June to 2.1% in July.
Author: Carl Kelly, Economist