              
             English Version
            
                    search
                    close

FocusEconomics: Peru's economic activity started 4Q on strong note

00:20 | Lima, Jan. 17.

Peru's economic activity expanded 4.18% year-on-year in October, doubling September’s 2.1% increase, the latest FocusEconomics' LatinFocus Consensus Forecast report informed.

Meanwhile, national production in the January–October period rose by 3.7% from the same period in 2017.

Likewise, growth came on the back of solid consumer spending, as well as of a strong expansion in non-traditional exports. Retail sales expanded at a healthy pace in October, while consumer credit growth remained strong.

"On the external side, foreign sales of textile, fishing, chemical, metal-mechanical, and iron and steel products recorded the strongest increases," it said.

In terms of productive sectors, all sectors —except mining— continued to expand. In particular, the construction, fishing, agricultural, and manufacturing sectors recorded the fastest expansions.

While the agricultural sector continued to benefit from favorable weather conditions, the construction sector was boosted by surging investment in public infrastructure.

Panelists surveyed for this month's LatinFocus report expect GDP to expand 3.8% in 2019, which is unchanged from last month's projection.

Peru's Central Reserve Bank (BCR) has maintained its economic growth forecast for 2018 at 4%. Additionally, President Martin Vizcarra has projected the economy will grow at least 4% in 2019.

(END) NDP/DTK/MVB

Publicado: 17/1/2019