Manufacturing in Peru
Peru - Manufacturing
Year-on-year GDP growth accelerated in the first quarter of this year from the previous period. The improvement was broad-based, with private consumption, public spending, fixed investment and exports all expanding at faster paces. That said, underlying momentum soured, as shown by the quarter-on-quarter downturn. Moving to Q2, data is scarce: Soaring inflation in April and May spells trouble for household consumption, although a lower unemployment rate in April could have lent some support to spending. Meanwhile, in late May the IMF approved a new two-year USD 5.4 billion flexible credit line arrangement to support the economy given an uncertain global backdrop. In the political arena, in a further sign of instability, President Castillo recently appointed four new ministers, including the mining minister, while the attorney general included the president in a criminal investigation, raising the risk that the president will be forced from office.Peru - Manufacturing Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Manufacturing (annual variation in %) | -0.9 | -0.2 | 0.2 | 6.2 | -1.7 |
Peru Manufacturing Chart
Source: Peru Central Bank and FocusEconomics calculations.
Peru Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.0 | -0.60 % | Nov 08 |
| Exchange Rate | 3.31 | -0.06 % | Jan 01 |
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Economic News
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Peru: Economic activity growth loses pace in November
January 23, 2023
Economic activity grew 1.7% year on year in November (October: +2.0% yoy).
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Peru: New government formed and snap elections likely following Castillo’s attempted coup
January 17, 2023
Political instability is likely to persist following the formation of a new government. Further loosening of the fiscal purse strings is expected ahead of elections in 2024.
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Peru: Merchandise exports decline in November
January 13, 2023
Merchandise exports dived 21.4% year-on-year in November, following October’s 9.2% fall.
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Peru: Central Bank hikes again in December
January 12, 2023
At its 12 January meeting, the Central Bank of Peru raised its key policy interest rate by 25 basis points to 7.75%. The Bank continued to tighten the monetary policy stance in order to reduce elevated inflation and bring down inflation expectations, both of which remain well above the 1.0–3.0% target range.
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Peru: Inflation picks up in November
January 10, 2023
Inflation came in at 8.5% in December, up from November’s 8.4%.
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