Peru: Economic activity picks up in January, but overall trend continues downward slide
March 20, 2015
In January, economic activity expanded 1.7% over the same month of the previous year, which was up from the 0.5% increase tallied in December. According to the statistical institute, the expansion was driven by growth in the commerce and services sectors. In contrast, the manufacturing and construction industries registered contractions.
A month-on-month comparison showed that economic activity increased a seasonally-adjusted 0.5% in January, which followed the 0.3% increase observed in December.
Despite the modest acceleration in annual growth, the trend moderated further. Annual average growth in economic activity decreased from 2.4% in December to 2.2% in January, which marked the lowest point in almost five years.
Author: Carl Kelly, Economist