Peru Economic Activity December 2015

Peru

Peru: Economic activity in December jumps to two-year high

January 22, 2016

In December, economic activity expanded 6.4% over the same month of the previous year, which was above the 4.0% increase tallied in November. According to the Statistical Institute, the expansion in December was mainly driven by growth in the mining industry, which has experienced a surge in output in the second half of the year. The manufacturing sector also contributed to December’s growth.

For the full year 2015, economic activity expanded 3.3%, which was above 2014’s 2.4%. The result was driven by robust growth in private and government consumption, while investment recorded a notable contraction.

The panelists who participated in this month’s LatinFocus Consensus Forecast survey expect GDP to expand 2.7% in 2016, which is down 0.1 percentage points from last month’s projection. For 2017, the panel expects the economy to grow 3.4%.


Author: Ricard Torné, Head of Economic Research

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Peru Economic Activity December 2015

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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