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.
Author: Carl Kelly, Economist