Peru: GDP records best result since Q1 2023 in Q4
According to a preliminary reading, GDP dropped at a more moderate pace of 0.4% year on year in the fourth quarter, above the 0.9% contraction tallied in the third quarter. Q4’s reading marked the best result since Q1. On a seasonally adjusted quarter-on-quarter basis, GDP bounced back, expanding 0.4% in Q4, contrasting the previous period’s 0.2% decrease. Q4’s reading marked the best result since Q3 2022.
The upturn reflected a broad-based improvement in private consumption, public spending, fixed investment and exports.
Household spending growth sped up, growing 0.2% year on year in Q4 compared to a 0.1% expansion in Q3. Public spending accelerated to a 7.3% increase in Q4 (Q3: +3.0% yoy). Fixed investment slid at a milder pace of 0.3% in Q4, from the 5.9% decrease recorded in the prior quarter. On the external front, exports of goods and services growth picked up to 3.9% in Q4 (Q3: +1.5% yoy). In addition, imports of goods and services bounced back, growing 3.7% in Q4 (Q3: -1.3% yoy).