Peru Economic Activity December 2016

Peru

Peru: Economic activity inches up in December

February 15, 2017

Economic activity expanded 3.3% in December from the same month of the previous year, which was above the revised 3.2% rise in November (previously reported: +3.6% year-on-year). Mining and manufacturing output were the main contributors to the healthy increase though December’s result reflected solid expansions in all sectors except for construction, which contracted.

The extraction of copper, iron and lead continued to support strong output in the mining sector. Meanwhile, the rise in the manufacturing sector was fueled by the production of fishmeal and other fish-based goods as the latest anchovy season proved particularly gainful. Conversely, the discouraging performance seen in the construction sector was mainly due to a decrease in the number of public infrastructure projects.

The annual average variation in economic activity was 3.9% in December, below November’s 4.2%.

LatinFocus Consensus Forecast panelists expect GDP to expand 3.9% in 2017, which is down 0.3 percentage points from last month’s projection. For 2018, the panel expects the economy to grow 4.1%.


Author: Marlène Rump, Senior Data Analyst

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Peru Economic Activity December 2016

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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