Peru Economic Activity July 2019


Peru: Economic activity slows in September

November 19, 2019

In September, economic activity grew 2.2% year-on-year, decelerating markedly from August’s 3.4% outturn and surprising market expectations on the downside. Therefore, national production in January–September expanded 2.2%, slightly up from the 2.1% increase recorded in the in January–August period.

A sizable contraction in the mining sector and softer growth in the agricultural sector were chiefly behind September’s cooling. Meanwhile, the trade, construction, financial and telecommunication sectors expanded solidly in the month.

Lastly, the annual average variation in economic activity was stable at August’s 2.8% in September.

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 September 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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