Peru: Economic activity quickens in May
July 16, 2012
In May, economic activity increased 6.5% over the same month last year, which represented an acceleration compared to the 4.4% expansion recorded in April and marked, in fact, the fastest pace since February. The monthly print overshot market expectations of a 5.4% increase and primarily reflected faster growth in commerce as well as a rebound in construction activity. On a monthly basis, economic activity jumped a seasonally adjusted 1.59% in May, which contrasted the 0.02% drop recorded in April, confirming the robust growth suggested by the annual figures. Despite the May acceleration, the trend continues to suggest more moderate growth, with annual average growth in economic activity inching down from 6.0% in April to 5.9% in May.
Author: Ricardo Aceves, Senior Economist