Centro Comercial, Economía, Finanzas, Crecimiento Económico. Foto: ANDINA/Melina Mejía
Peruvian economy may have expanded around 3.0% in May, growing at a faster rate when compared to official estimates (2.8%), Economy and Finance Ministry (MEF) reported Friday.
Such rate would mark 94 months of uninterrupted growth, thus leading to accumulated expansion of around 2.0% in the first five-month period of the year and of 3.0% over the last twelve months.
May would be the first month of recovery and records a far higher growth rate than the February-April period.
MEF expects a significant recovery in trading and services, mainly in northern Peru, following "
Coastal El Niño" weather phenomenon.
Trade and services activities in the northern region account for 7.5% of the national GDP.
Regarding primary sectors,
fisheries shows a 280% increase —thus standing out among the others— due to higher catch of anchovy during the second month of the first fishing season.
Farming, on the contrary, is estimated to drop by about 2.0%, which partly shows the impact of the so-called "Coastal El Niño."
(END) RES/RMB
Published: 7/14/2017