Peru: Economic activity improves at 2020 outset
In January, economic activity grew a 3.0% year-on-year, accelerating significantly from December’s subdued 1.2% outturn and surprising market expectations on the upside. Therefore, the annual average variation in economic activity inched up from December’s 2.2% to 2.3% in January.
In terms of industries, January’s expansion was underpinned by strong growth in the mining and quarrying, internal trade, construction, agricultural, accommodation and restaurants and telecommunication sectors. Growth in the construction sector was underpinned by a surge in public infrastructure investment. Meanwhile, the fishing sectors reported a sizable drop in the month.