Peru Economic Activity November 2019

Peru

Peru: Economic activity slows further in November

January 15, 2020

In November, economic activity grew 1.9% year-on-year, decelerating slightly from October’s 2.1% outturn and surprising market expectations on the downside. Therefore, national production in January–November expanded 2.1%, down from the 2.2% increase recorded in the in January–October period.

In terms of industries, November’s expansion was underpinned by healthy growth in the trade, mining, accommodation and restaurants and telecommunication sectors. Meanwhile, the manufacturing and construction sectors reported drops in the month, while production in the fishing sector slumped.

Lastly, the annual average variation in economic activity declined from October’s 2.6% to 2.3% in November, the softest reading since September 2015.

LatinFocus Consensus Forecast panelists expect GDP will expand 3.4% in 2020, which is unchanged from last month’s projection. For 2021, the panel sees the economy growing 3.5%.


Author: Massimo Bassetti, Economist

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Peru Economic Activity Chart


Peru Economic Activity November 2019

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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