Andina

Credicorp raises Peru's 2018 GDP growth to 3.8%

15:14 | Lima, Jun. 18.

Privately-run Credicorp Capital raised its Peru 2018 GDP growth projection from 3.5% to 3.8% due to the high expansion national economy may register in the second quarter (close to 5%).

As is known, Peruvian economic activity increased 7.81% last April, the highest rate in the last 60 months.

It must be noted this upward revision occurs in a scenario marked by higher-than-expected indicators, which would make 2018's first half GDP rise close to 4%

Between January and May this year, imports volume expanded to double digits, mainly capital goods —without considering construction materials (16%) and durable consumer goods (10%).

Likewise, domestic cement consumption grew above 8% last April and May, thus being the highest rate in almost five years.

Furthermore, general sales tax collection increased 11% in real terms between January and May, the largest expansion in such a period since 2011.

"Thus, (...) we raise our GDP growth projection for 2018 from 3.5% to 3.8%," it highlighted.

According to Peru's Central Reserve Bank, national economy will expand 4% in 2018.

(END) RGP/RGP/JAA/MVB

Publicado: 18/6/2018