Peru: Economic activity picks up modestly in July
September 15, 2014
In July, economic activity expanded 1.2% over the same month last year. Although not stellar, July’s result marked an acceleration over the 0.3% increase tallied in June, which had marked the weakest growth since September 2009. According to the statistical institute, the modest expansion was driven by growth in the commerce, agriculture, financial services and professional services sectors. In contrast, the manufacturing, construction and mining industries registered contractions.
Despite the annual acceleration, the trend moderated further. Annual average growth in economic activity decreased from 4.7% in June to 4.4% in July, which marked the lowest point in over four years.
Author: Carl Kelly, Economist