Peru Economic Activity

Peru

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.

For 2014, the Central Bank sees the economy expanding 6.2%. LatinFocus Consensus Forecast panelists expect GDP to expand 5.2% in 2014, which is down 0.2 percentage points from last month’s projection. For 2015, the panel expects the economy to grow 5.6%.


Author:, Economist

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Peru Economic Activity July 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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