Peru: Economic activity grows at anemic pace in May
July 15, 2019
Economic activity increased a lackluster 0.6% in year-on-year terms in May, following the flat reading recorded in April—which marked the worst result in nearly 10 years. Therefore, national production in January-May grew a modest 1.5%.
Growth came on the back of healthy consumer spending and lending growth. In terms of productive sectors, expansions were recorded in the telecommunications; internal trade; and accommodation and restaurants sectors. On the other hand, notable contractions were registered in the manufacturing; mining and quarrying; and fishing sectors.
Meanwhile, the annual average variation in economic activity fell to 2.5% in May, from April’s 3.0%, marking the worst result in over one year.