Peru Economic Activity

Peru

Peru: Economic activity drops to four-and-a-half-year low

June 20, 2014

In April, economic activity expanded 2.0% over the same month last year, which was well below the 4.9% rise tallied in March. April’s result marked the weakest increase since October 2009. According to the statistical institute, seven of the nine categories that make up the index decelerated, including contractions in the mining and oil industry as well as in the construction sector.

A month-on-month comparison showed that economic activity increased a seasonally-adjusted 0.9% in April, which contrasted the 0.6% contraction observed in March.

The annual deceleration caused the trend to take a downward turn. Annual average growth in economic activity decreased from 5.8% in March to 5.3% in April.

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 increase 5.6%.


Author:, Economist

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Peru Economic Activity April 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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