Peru: Economic activity regains speed in November
January 16, 2017
Economic activity in Peru expanded 3.6% in November over the same month of the previous year, which was above the 2.1% increase seen in October. The acceleration came on the back of double-digit growth in the important mining sector and expansions in all but one of the remaining categories.
In the mining sector, the production of iron and copper surged, buttressed by the ongoing increase in capacity due to new large-scale mines, such as La Bamba and Cerro Verde. Another bright spot was the manufacturing sector, which rebounded from a contraction in October and increased robustly in November. However, a discouraging performance was seen in the construction sector, which recorded yet another month of dwindling activity.
The annual average variation in economic activity was 4.2% in November, matching October’s reading.