Peru: Economic activity growth eases in March
Economic activity grew 3.8% in year-on-year terms in March, which was a deterioration from February’s 4.9% increase. Looking at the details of the release, the commerce sector accelerated in March, while the agricultural sector lost momentum. Lastly, activity in the manufacturing sector rose at a stronger rate, while mining and hydrocarbons output dipped at a steeper pace than in February.
On a monthly basis, economic activity rose at a more moderate pace of 0.3% in March (February: +0.4% mom). Meanwhile, annual average economic activity growth fell to 13.1% in March (February: +14.5%), pointing to a worsening trend.