Peru: Economic activity picks up to six-month-high in September
November 21, 2014
In September, economic activity expanded 2.7% over the same month last year, which more than doubled the 1.3% increase tallied in August. The result marked the highest growth rate since March. According to the statistical institute, the expansion was driven by growth in the construction, services, and commerce sectors. In contrast, the mining and hydrocarbons, manufacturing, and fishing industries registered contractions.
A month-on-month comparison showed that economic activity increased a seasonally-adjusted 0.7% in September, which followed the 0.3% increase observed in August.
Despite the steady annual growth, the trend moderated further. Annual average growth in economic activity decreased from 4.1% in August to 3.9% in September, which marked the lowest point in over four years.
Author: Carl Kelly, Economist