Peru GDP

Peru

Peru: Economic growth slows in fourth quarter

February 24, 2012

In the fourth quarter, GDP grew 5.5% over the same period the year before, which was below the 6.7% increase observed in the third quarter, but virtually in line with market expectations, which had seen GDP slowing to 5.4%. The quarterly reading represents the slowest growth rate seen since the last quarter of 2009. The deceleration in the last quarter was mainly the result of a deterioration in the external sector, although domestic demand also weakened over the previous period. Growth in total consumption remained virtually unchanged in the fourth quarter (Q3: +6.4% year-on-year; Q4: +6.3% yoy), as accelerating private consumption was offset by a slowdown in government spending compared to the previous quarter. Gross fixed investment accelerated from a 1.4% increase in Q3 to a 3.8% expansion in Q4. Meanwhile, the external sector weakened somewhat, as exports of goods and services decelerated from a 9.5% increase in the third quarter to a 7.4% expansion in the fourth. In contrast, imports increased 5.5% in Q4, faster than Q3's 3.9% growth rate. As a result, the external sector's net contribution to overall growth deteriorated from 0.9 percentage points in the third quarter to 0.1 percentage points in the fourth. Although the economy grew a healthy 6.9% in the full year 2011, this was still below the strong 8.8% expansion observed in 2010. In its December inflation report, the Central Bank projects the economy to expand 5.5% this year, before accelerating to 6.3% in 2013.


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