Peru Economic Activity

Peru

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.

The Central Bank sees the economy expanding 4.8% in 2015 and 6.0% in 2016. LatinFocus Consensus Forecast panelists expect GDP to expand 4.6% in 2015, which is down 0.1 percentage points from last month’s projection. For 2016, the panel expects the economy to grow 5.2%.


Author:, Economist

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Peru Economic Activity December 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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