Peru economy up 3.39% in August, hits highest rate so far 2019

10:59 | Lima, Oct. 15.

Peru's national production grew 3.39% in August 2019, the highest monthly rate so far this year and driven by the favorable performance of all productive activities, the National Institute of Statistics and Informatics (INEI) reported Thursday.

With this result, Peru has accumulated 121 months of continuous growth.

According to INEI's National Production Technical Report, the country's economic activity posted an increase of 2.14% between January and August 2019 and of 2.82% in the last 12-month period (September 2018-August 2019).

August's rise was determined by the positive evolution of household consumption as reflected in higher retail sales (3.04%), consumer loans (12.23%), and imports of non-durable consumer goods (4.81%).

This growth was also attributed to greater exports of traditional products like cotton, sugar, iron, lead, as well as non-traditional fishing products.


Sectors like mining and hydrocarbons; trade; construction; telecommunications; manufacturing; as well as accommodation and restaurants contributed nearly 54% to the total outcome in August 2019.

"It should be noted this month's result was determined by the positive impact of all economic activities," INEI said.


Published: 10/15/2019
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