Peru Economic Activity September 2022

Peru

Peru: Economic activity growth eases in September

November 18, 2022

Economic activity grew 1.7% compared to the same month of the previous year in September, which was a deterioration from August's 1.7% increase. The figure came on the back of weaker activity in the commerce sector. In addition, activity in the construction sector lost pace. Lastly, activity in the manufacturing sector declined at a sharper rate, while mining and hydrocarbons output contracted at a softer pace than in August.

On a monthly basis, economic activity grew 0.1% in September, matching August’s uptick. Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at an over one-year low of 3.0% in September, down from August's 3.7%.

LatinFocus Consensus Forecast panelists estimate that GDP will expand 3.1% in 2023, which is unchanged from last month’s projection, and grow 3.0% in 2024.


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Peru Economic Activity September 2022

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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