Peru Economic Activity November 2022

Peru

Peru: Economic activity growth loses pace in November

January 23, 2023

Economic activity grew 1.7% year on year in November (October: +2.0% yoy). Looking at the details of the release, the commerce sector gained steam in November, while the agricultural sector increased at a softer pace. Meanwhile, the construction sector increased at a stronger pace. Lastly, activity in the manufacturing sector dropped at a sharper rate, while mining and hydrocarbons output rose.

On a monthly basis, economic activity increased 0.1% in November, matching October’s expansion. Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at 2.6%, down from October's 2.8%.

LatinFocus Consensus Forecast panelists estimate that GDP will expand 2.7% in 2023, which is up 0.1 percentage points from last month’s projection, and grow 2.3% in 2024.


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Peru Economic Activity November 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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