Peru Economic Activity July 2019

Peru

Peru: Economic activity gains further traction in July

September 15, 2019

In July, economic activity grew 3.3% year-on-year, accelerating from June’s 2.6% outturn. Therefore, national production in January–July expanded 2.0%, up from the 1.7% increase recorded in the in January–June period.

An improvement in external demand and resilient household spending were behind July’s print. Retail sales came in at a healthy pace, and consumer credit recorded two-digit growth in July. In terms of productive sectors, a surge in production in the fishing sector, and robust expansions in the manufacturing and financial sectors were behind the positive performance of the economy in the month.

Meanwhile, the annual average variation in economic activity rose to 2.7% in July, matching the previous month’s reading.

LatinFocus Consensus Forecast panelists expect GDP will expand 3.8% in 2019, which is unchanged from last month’s projection. For 2020, the panel sees the economy growing 3.7%.


Author: Massimo Bassetti, Economist

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Peru Economic Activity July 2019

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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