Peru Economic Activity


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.

The Central Bank sees the economy expanding 4.8% in 2015 and 6.0% in 2016. LatinFocus Consensus Forecast panelists expect GDP to expand 4.6% in 2015, which is down 0.1 percentage points from last month’s projection. For 2016, the panel expects the economy to grow 5.2%.

Author:, Economist

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Peru Economic Activity Chart

Peru Economic Activity January 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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