Peru Economic Activity July 2016

Peru

Peru: Economic activity picks up some steam in July

September 15, 2016

In July, economic activity expanded 3.8% over the same month last year, which was faster than the 3.6% increase seen in June but fell short of the 4.0% expansion the markets had expected. Economic activity has recorded 84 consecutive months of expansion. The sustained expansion of national production has been largely driven by solid external demand for traditional Peruvian goods, according to the Statistical Institute.

Growth in economic activity was supported by healthy expansions in the mining and hydrocarbon sectors as well as solid growth in the communication, utilities and financial services sectors. Conversely, output in construction fell again in July. Activity in the mining industry has been expanding for 17 consecutive months, driven especially by copper extraction this year, while the production of crude oil has been contracting for a year and a half.

On average, in the 12 months up to July, economic activity increased 4.0%, which matches June’s reading.

The panelists who participated in this month’s LatinFocus Consensus Forecast survey expect GDP to expand 3.7% in 2016, which is unchanged from last month’s projection. For 2017, the panel expects the economy to grow 4.2%.


Author: Marlène Rump, Senior Data Analyst

Sample Report

Looking for forecasts related to Economic Activity in Peru? Download a sample report now.

Download

Peru Economic Activity Chart


Peru Economic Activity July 2016 0

Note: Year-on-year changes of economic activity and annual average growth rate in %.
Source: Peru National Statistical Institute (INEI) and FocusEconomics calculations.


Peru Economic News

  • Peru: Economic activity growth picks up in February

    April 15, 2019

    Economic activity expanded 2.1% year-on-year in February, picking up some pace from January’s subdued 1.6% increase, which had marked the weakest reading in over one year.

    Read more

  • Peru: Central Bank stands pat at March meeting

    April 12, 2019

    At its monetary policy meeting on 11 April, the Central Bank of Peru (BCRP) kept the policy interest rate unchanged at an eight-year low of 2.75%, matching market expectations.

    Read more

  • Peru: Consumer confidence plummets in March

    April 6, 2019

    The consumer confidence indicator published by GfK tumbled to 94 in March from 104 in February, which had marked the best result in over two years.

    Read more

  • Peru: Trade surplus narrows further in February on dwindling exports

    April 5, 2019

    Peru’s trade balance recorded a USD 326 million surplus in February, narrowing from January’s USD 449 million surplus and also lower than the USD 552 million surplus recorded in the same month of last year. Exports declined 3.8% year-on-year in February, due to a drop in prices, following January’s sharper 4.1% fall.

    Read more

  • Peru: Businesses grow more optimistic in March

    April 5, 2019

    The business confidence indicator rose from February’s 58.5 to 59.6 in March, and thus moved further above the 50-point threshold that separates optimism from pessimism, where it has been for almost two years. March’s improvement came chiefly on the back of better prospects on the general economic situation, as well as on demand prospects.

    Read more

More news

Search form