Peru: Economic activity growth picks up pace in October
Economic activity increased 2.0% year on year in October (September: +1.7% yoy). Looking at the details of the release, October’s pickup was broad-based, with the commerce sector, agricultural sector and construction sector sub-sectors all gaining steam. Lastly, activity in the manufacturing sector dropped at a softer rate, while mining and hydrocarbons production gained pace.
On a monthly basis, economic activity rose 0.1% in October, matching Septembers expansion. Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at 2.8% in October, down from September’s 3.0% reading.