Peru GDP

Peru

Peru: Economy loses steam in first quarter

May 27, 2011

In the first quarter, GDP expanded 8.8% over the same period last year, according to data from the Central Bank. The reading represented a slowdown compared to the 9.2% increase observed in the fourth quarter but was broadly in line with last month's LatinFocus Consensus Forecast, which had seen GDP rising 8.5%. The first quarter result marked the slowest GDP growth rate in one year. The deceleration observed in the first three-month period was mainly the result of slower growth in domestic demand, as total consumption slowed to a 6.3% expansion in the first quarter from a 6.7% increase in the fourth and gross fixed investment decelerated sharply to a 12.3% increase in the first quarter from a 23.2% expansion in the final quarter of 2010. In contrast, the external sector improved somewhat compared to the previous quarter, amid faster export growth. Exports of goods and services accelerated from a 2.7% year-on-year increase in the fourth quarter to a 3.4% expansion in the first quarter, whereas imports slowed from a 23.4% expansion in the fourth quarter to a 13.5% increase in the first. As a result, the net contribution from the external sector to overall economic growth stepped up from minus 4.1 percentage points in the fourth quarter to minus 2.2 percentage points in the first. At the sector level, the first quarter reading reflected slower growth in the non-primary sectors, whereas the primary sector accelerated over the fourth quarter. The Central Bank anticipates that economic activity will grow 7.0% this year, before slowing to 6.5% in 2012.


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