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.
Author: Carl Kelly, Economist