Peru GDP

Peru

Peru: Economic growth accelerates in November

January 21, 2011

In November, economic activity grew 10.0% over the same month the previous year, which was above the 8.3% increase observed in October. The reading, which overshot market expectations of a 9.0% rise, represented the third month of double-digit growth in economic activity in 2010. The November acceleration mainly reflected strong growth in manufacturing, which expanded 14.4% annually, and grew at virtually the same pace as recorded in October (October: +14.7 year-on-year). Commerce posted faster growth than in October, growing 10.8% year-on-year (October: +7.9% yoy). In addition, the construction sector rebounded, rising 23.8% in November, which more than doubled the 10.7% expansion observed in October. As a result of the strong reading in November, the trend continues to point to a strong recovery, with annual average growth in economic activity rising from 8.0% in October to 8.5% in November, marking the fastest pace of growth since January 2009. Despite the strong result, a month-on-month assessment does not corroborate the acceleration suggested by the annual data, as economic activity dropped 0.65% in November in seasonally adjusted terms, contrasting the 1.05% rise registered in October. Meanwhile, the Central Bank expects the economy to expand 6.5% this year. For 2012, the Bank anticipates the economy to grow 6.0%.


Author:, Senior Economist

Sample Report

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

Download




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