Peruvian economy might expand around 4% between July and September 2018, thus maintaining national GDP's dynamism, privately-run Scotiabank Peru estimated Tuesday.
"We forecast the economic activity will maintain its upward trend over the third quarter (of 2018), but at a lower rate, close to 4%," said Pablo Nano, chief of Real Economy at Scotiabank's Department of Economic Studies.
According to the analyst, this projection is based on a moderate growth of primary sectors, boosted by specific factors in the second quarter of 2018, such as a
higher anchovy quota and a low comparison base from the similar period last year due to Coastal El Niño phenomenon.
On the other hand, Nano remarked leading indicators for June 2018 point to a growth rate lower than those recorded in
April (7.8%) and
May (6.4%).
May
"Although May's GDP growth rate (6.4%) was not as high as that of April (7.8%), it was greater than the expected 5.4% (…)," Nano underlined.
It must be noted this result was mainly explained by the good performance of primary sectors —particularly the
farming sector (+14.8%).
(END) CNA/JAA/MVB