Peru: Economic activity stabilizes in August
October 24, 2014
In August, economic activity expanded 1.2% over the same month last year, which matched the increase tallied in July. According to the statistical institute, the expansion was driven by growth in the services, commerce, agriculture, and electricity and water sectors. In contrast, the fishing, manufacturing, construction and mining industries registered contractions.
A month-on-month comparison showed that economic activity increased a seasonally-adjusted 0.2% in August, which was weaker than the 0.5% increase observed in July.
Despite the steady annual growth, the trend moderated further. Annual average growth in economic activity decreased from 4.4% in July to 4.0% in August, which marked the lowest point in over four years.
Author: Carl Kelly, Economist