Peru: Economic activity expands robustly in December
February 15, 2019
Economic activity jumped 4.7% year-on-year in December, decelerating from November’s strong 5.3% increase. National production in the January–December period, meanwhile, rose by 4.0% from the same period in 2017.
Growth came on the back of solid domestic demand, as well as a strong expansion in non-traditional exports. Retail to expanded at a reasonable pace in December, while consumer credit growth remained buoyant.
In terms of productive sectors, all sectors except mining continued to expand. In particular, the fishing, manufacturing, utility, and financial sectors recorded the fastest expansions. The construction sector also recorded a notable increase, buttressed by surging investment in public infrastructure.
Meanwhile, annual average variation in economic activity came in at 3.9% in December, up from November’s 3.6% and the fastest pace in nearly two years.