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Peru: Construction sector seen up for 4th straight month

Obras de construcción de túnel para by pass en Av
.28 de Julio. Foto: Andina/Difusión

Obras de construcción de túnel para by pass en Av .28 de Julio. Foto: Andina/Difusión

10:02 | Lima, Oct. 14.

Peru's domestic cement consumption has grown for fourth straight month and construction sector is estimated to have replicated this performance, marking 4 months of consecutive rise, Central Reserve Bank (BCR) informed.

According to BCR Monetary Policy Manager Paul Castillo, preliminary figures state domestic cement consumption expanded 3.2% last September. 

Strong correlation

"Domestic cement consumption is correlated with the construction sector, and —in fact— based on the data we have collected, a positive GPD for said sector is projected for August and September," he estimated.

In this sense, construction sector GDP may have seen four months of sustained growth as positive figures were reported in June and July as well, thus showing steady recovery in the sector.

According to the National Institute of Statistics and Informatics (INE), construction grew 3.49% last June, following nine months of negative results.

Likewise, it registered a 3.8% rise in July, mainly underpinned by higher domestic cement consumption (1.41%) and public investments (11.1%).

(END) JJN/JJN/JAA/RMB

Published: 10/14/2017
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