Peru Economic Activity February 2022

Peru

Peru: Economic activity growth rises in February

April 22, 2022

Economic activity increased 4.9% year-on-year in February (January: +2.9% yoy). The rise was largely due to faster growth in the commerce sector. In contrast, the agricultural sector lost steam. Lastly, activity in the manufacturing sector accelerated, while mining and hydrocarbons output moderated.

On a monthly basis, economic activity grew 0.4% in February, which was above January’s 0.2% expansion. Meanwhile, the trend improved significantly, with the annual average growth of economic activity coming in at 14.4%, up from January's 13.6% reading.

LatinFocus Consensus Forecast panelists estimate that GDP will expand 3.1% in 2022, which is unchanged from last month’s projection, and grow 3.0% in 2023.


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