Peru Economic Activity September 2018

Peru

Peru: Third quarter economic activity ends on a low note

November 15, 2018

Economic activity expanded 2.1% year-on-year in September, down from August’s 2.3% increase. National production in the January–September period, meanwhile, rose by 3.6% from the same period in 2017.

Consumer spending likely decelerated but remained solid, driving growth in September, while exports swung from a timid expansion in August to a significant contraction. Retail sales expanded at a healthy but softer pace in September, while consumer credit growth remained strong. On the external side, the downturn in exports was the result of a notable fall in overseas sales of traditional products, especially mining products. Non-traditional exports, on the other hand, continued to expand robustly, led by higher sales of agricultural and fishing products.

In terms of productive sectors, almost all sectors continued to expand. In particular, the telecommunication, fishing, agricultural and financial and insurance sectors continued to expand solidly. The agricultural sector again benefited from favorable weather conditions. However, the construction sector continued to shrink, dragged down by falling investment in public infrastructure.

Meanwhile, annual average variation in economic activity came in at 3.2% in September, marginally down from August’s 3.3% increase.

Peru GDP Forecast


LatinFocus Consensus Forecast panelists expect GDP will expand 3.8% in 2019, which is unchanged from last month’s projection. For 2020, the panel sees the economy growing 3.7%.


Author: Massimo Bassetti, Economist

Sample Report

Looking for forecasts related to Economic Activity in Peru? Download a sample report now.

Download

Peru Economic Activity Chart


Peru Economic Activity September 2018

Note: Year-on-year changes of economic activity and annual average growth rate in %.
Source: Peru National Statistical Institute (INEI) and FocusEconomics calculations.


Peru Economic News

  • Peru: Economic activity growth picks up in February

    April 15, 2019

    Economic activity expanded 2.1% year-on-year in February, picking up some pace from January’s subdued 1.6% increase, which had marked the weakest reading in over one year.

    Read more

  • Peru: Central Bank stands pat at March meeting

    April 12, 2019

    At its monetary policy meeting on 11 April, the Central Bank of Peru (BCRP) kept the policy interest rate unchanged at an eight-year low of 2.75%, matching market expectations.

    Read more

  • Peru: Consumer confidence plummets in March

    April 6, 2019

    The consumer confidence indicator published by GfK tumbled to 94 in March from 104 in February, which had marked the best result in over two years.

    Read more

  • Peru: Trade surplus narrows further in February on dwindling exports

    April 5, 2019

    Peru’s trade balance recorded a USD 326 million surplus in February, narrowing from January’s USD 449 million surplus and also lower than the USD 552 million surplus recorded in the same month of last year. Exports declined 3.8% year-on-year in February, due to a drop in prices, following January’s sharper 4.1% fall.

    Read more

  • Peru: Businesses grow more optimistic in March

    April 5, 2019

    The business confidence indicator rose from February’s 58.5 to 59.6 in March, and thus moved further above the 50-point threshold that separates optimism from pessimism, where it has been for almost two years. March’s improvement came chiefly on the back of better prospects on the general economic situation, as well as on demand prospects.

    Read more

More news

Search form