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Peru: Domestic demand to grow 3.5% in 3Q 2018

14:28 | Lima, Aug. 28.

Scotiabank's Department of Economic Studies estimates Peru's domestic demand will increase by about 3.5% in the first quarter of the year, driven by private investment.

"We expect domestic demand growth will continue to outpace the GDP growth rate during the third quarter of 2018," the financial entity underlined.

This expansion rate is expected to be lower than the one registered during the second quarter of 2018, due to a moderation in the pace of primary sectors' expansion.

For its part, domestic demand will still be underpinned by private mining and non-mining investment.

Investments in infrastructure —works like Lima Metro Line 2 and Pisco Port modernization— tourism, real estate, and retail sectors stand out in the non-mining activity.

Likewise, the bank predicts a steady positive evolution in public investment, mainly in Lima 2019 Pan American Games-related projects.

"It must be noted greater investment can have a positive impact on the generation of jobs and income, thus keeping up with dynamic private consumption," Scotiabank concluded.

(END) MDV/RMB/MVB

Published: 8/28/2018

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Peru: Domestic demand to grow 3.5% in 3Q 2018

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