Peru: Economic activity ticks up in December, but overall trend continues downward slide
February 19, 2015
In December, economic activity expanded 0.5% over the same month of the previous year, which was up from the 0.2% increase tallied in November. According to the statistical institute, the expansion was driven by growth in the commerce and services sectors. However, the fishing and manufacturing industries tallied double-digit declines, and mining and hydrocarbons also contracted.
A month-on-month comparison showed that economic activity increased a seasonally-adjusted 0.3% in December, which contrasted the 0.6% decrease observed in November.
Despite the modest acceleration in annual growth, the trend moderated further. Annual average growth in economic activity decreased from 3.0% in November to 2.4% in December, which marked the lowest point in almost five years.
Author: Carl Kelly, Economist