Peru Economic Activity May 2019

Peru

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.

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 May 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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