Peru Economic Activity

Peru

Peru: Economic activity slows in February, overall trend continues downward slide

April 20, 2015

In February, economic activity expanded 0.9% over the same month of the previous year, which was down from the 1.7% increase tallied in January. According to the statistical institute, the modest expansion was mainly driven by growth in the commerce, telecommunications and financial services sectors. In contrast, the construction and manufacturing industries registered contractions.

Following on the deceleration in economic activity, the growth trend moderated further. Annual average growth in economic activity decreased from 2.2% in January to 1.8% in February, which marked the lowest point in almost five years.

The Central Bank sees the economy expanding 4.8% in 2015 and 6.0% in 2016. LatinFocus Consensus Forecast panelists expect GDP to expand 3.6% in 2015, which is down 0.5 percentage points from last month’s projection. For 2016, the panel expects the economy to grow 4.6%.


Author:, Economist

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Peru Economic Activity February 2015

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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