Peru GDP


Peru: Economic growth accelerates in first quarter

May 25, 2012

In the first quarter, GDP expanded 6.0% over the same period a year ago, which was above the 5.5% increase observed in the fourth quarter of 2011 but virtually in line with market expectations. The first quarter reading represented the first pick-up in economic growth since the second quarter of 2010. The first quarter reading reflected an improvement in domestic demand, as a rebound in construction bolstered a 16.5% increase in gross fixed investment (Q4 2011: +3.3% year-on-year). Growth in private consumption remained resilient and reached 6.0% in the January-March period, slightly below the 6.4% expansion observed in the fourth quarter. On the other hand, public spending contracted 0.7% in Q1, contrasting the 6.0% increase tallied in Q4 2011. Meanwhile, the external sector showed that exports of goods and services increased 14.8% in the first quarter, which doubled the growth rate observed in the final quarter if 2011. Imports grew 11.0% in Q1, also doubling the 5.5% expansion recorded in Q4 2011. As a result, the external sector

Author:, Senior Economist

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