Peru: Economic activity slumps to lowest level since 2009 in November
January 16, 2015
In November, economic activity expanded 0.3% over the same month last year, which was well below the 2.4% increase tallied in October. The result was the weakest since September 2009. According to the statistical institute, the slowdown was driven by double-digit declines in the fishing and manufacturing industries.
Given the significant deceleration in annual growth, the trend moderated further. Annual average growth in economic activity decreased from 3.6% in October to 2.9% in November, which marked the lowest point in over four years.
Author: Carl Kelly, Economist