Peru Economic Activity


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.

The Central Bank sees the economy expanding 4.4% in 2014 and 6.0% in 2015. LatinFocus Consensus Forecast panelists expect GDP to expand 3.6% in 2014, which is down 0.4 percentage points from last month’s projection. For 2015, the panel expects the economy to grow 5.3%, which is down 0.1 percentage points.

Author:, Economist

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Peru Economic Activity Chart

Peru Economic Activity August 2014

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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