Peru Fin Min: Economic activity accelerates in Nov 2018

13:45 | Lima, Jan. 15.

The Economy and Finance Ministry (MEF) noted that —according to the National Institute of Statistics and Informatics (INEI)— Peru's economic activity increased 5.27% in November, the highest rate since May 2018, which stood above the market's projection (5%).

Thus, the Inca country's GDP registered 112 months of continuous expansion.

This outcome was underpinned by the upturn in primary sectors (+7.1%).

Likewise, MEF highlighted the performance of the fishery (+188.5%) and the primary manufacture (+40.3%) spheres, both driven by the second anchovy fishing season in Peru's central and northern sea areas.

On the other hand, the mining and hydrocarbons sector slid 2.5% for the second month in a row.

Furthermore, non-primary segments continued to consolidate their expansion (+5%). For instance, the construction (+13.5%), non-primary manufacture (+3.8), and service (+4.7) spheres posted an increase.

"GDP may have maintained a good growth rhythm in the last month of 2018, in line with what the economic activity indicators available show," Economy and Finance Minister Carlos Oliva expressed.

"This positive dynamism of the economic activity in the last months of 2018 is consistent with a GDP growth rate of around 4% for the whole year, just like it had been projected. Therefore, 2019 begins with a strong boost," he added.

(END) CNA/DTK/MVB

Published: 1/15/2019

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Peru Fin Min: Economic activity accelerates in Nov 2018

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