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%).
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.