Peru Economic Activity

Peru

Peru: Economic activity moderates in October

December 19, 2014

In October, economic activity expanded 2.4% over the same month last year, which was below the 2.7% increase tallied in September. According to the statistical institute, the expansion was driven by growth in the services and commerce sectors, as well as a rebound in the mining and hydrocarbons industry. In contrast, the manufacturing and construction sectors registered contractions.

A month-on-month comparison showed that economic activity increased a seasonally-adjusted 0.2% in October, which was below the 0.8% increase observed in September.

Given the moderation in annual growth, the trend moderated further. Annual average growth in economic activity decreased from 3.9% in September to 3.6% in October, which marked the lowest point in over four years.

The Central Bank sees the economy expanding between 5.2% and 5.5% in 2015. LatinFocus Consensus Forecast panelists expect GDP to expand 2.9% in 2014, which is down 0.1 percentage points from last month’s projection. For 2015, the panel expects the economy to grow 4.7%, which is down 0.2 percentage points.


Author:, Economist

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Peru Economic Activity October 2014

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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