Peru: Economic activity expands robustly in December
National production in the January–December period, meanwhile, rose by 4.0% from the same period in 2017.
Growth came on the back of solid domestic demand, as well as a strong expansion in non-traditional exports. Retail to expanded at a reasonable pace in December, while consumer credit growth remained buoyant.
In terms of productive sectors, all sectors except mining continued to expand. In particular, the fishing, manufacturing, utility, and financial sectors recorded the fastest expansions. The construction sector also recorded a notable increase, buttressed by surging investment in public infrastructure.
Meanwhile, annual average variation in economic activity came in at 3.9% in December, up from November’s 3.6% and the fastest pace in nearly two years.
LatinFocus Consensus Forecast panelists expect GDP will expand 3.8% in 2019, which is unchanged from last month’s projection. For 2020, the panel sees the economy growing 3.7%. ■