Peru economy up 1.86% in November 2019

10:35 | Lima, Jan. 15.

Peruvian economy increased 1.86% in November 2019, thus marking 124 months of non-stop expansion, the National Institute of Statistics and Informatics (INEI) reported on Wednesday.

In addition, the productive activity posted a rise of 2.14% between January and November last year and of 2.37% in the last 12-month period (December 2018-November 2019).

The positive performance in November was boosted by greater external demand for non-traditional products (9.21%) in farming, fishing, iron-steel, and chemical sectors.

This pickup was also underpinned by a rise in domestic demand, as reflected in higher retail sales (3.14%), and consumer loans (12.83%).

November 2019 rise (1.86%) was fueled by the positive performance of most sectors, mainly of mining and hydrocarbons; trade; telecommunications; transport, storage, and communications; as well as accommodation and restaurants.

These productive sectors contributed 77% to Peru's GDP overall growth in such month.

However manufacturing, construction, and fishery experienced declines of 2.58%, 3.71%, and 13.77%, respectively.

Furthermore, the economy was boosted by the dynamism in services and primary sectors, as reflected in major economic activities.


Published: 1/15/2020
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