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Peru GDP to grow between 3.5% and 4% in 1Q 2019

09:07 | Lima, Jan. 22.

Peru's GDP will expand between 3.5% and 4% in the first quarter of 2019, privately-run banking institution Banco de Credito (BCP) has projected.

This growth will be affected by a drop in subnational public investment, but an economic benefit will be generated by the two additional working days (Holy Week holidays: April 18 and 19 this year vs. March 29 and 30 last year).

According to the Macroeconomic and Market Weekly Report, BCP's Economic Studies Department projects 2019 growth at 3.7% since August 2018.

As is known, the economic activity's monthly indicator expanded 5.3% in November 2018, the highest rate in six month, and surpassed —again— the figure expected by the market (Bloomberg consensus: 4.7%).

Thus, the Peruvian economy grew a cumulative 3.8% in the first 11 months of 2018.

According to the bank, primary sectors saw a significant pickup in November last year, while the non-primary ones remained at a good pace.
 
(END) CNA/RMB/MVB

Published: 1/22/2019
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