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Peruvian economy may have expanded around 3% in June 2019

10:39 | Lima, Jul. 17.

Peru's economic activity may have expanded around 3% in June 2019. Thus, GDP rose about 1.3% in the second quarter of this year compared to the similar period in 2018, Banco de Credito's (BCP) Department of Economic Studies has informed.

According to the institution, GDP increased 0.60% last May compared to the same month in 2018.

Likewise, the economic activity expanded 1.5% in the first five months of the year and 2.6% in the last 12 months.

Last May, primary sectors decreased 4.5%, while non-primary sectors grew 2.4%.

Furthermore, the Macroeconomic and Market Weekly Report indicated Peruvian economy might rise a little over 4% in the second half of 2019 in order to reach a 3% growth forecast for this year.

The weak dynamism in the first half was due to the fall within primary sectors and lower public expenditure. These factors will fade in the upcoming months, it added.

Within this framework, Peru's Central Reserve Bank (BCR) decided to keep its benchmark interest rate at 2.75%.

(END) MDV/DTK/MVB

Published: 7/17/2019

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Peruvian economy may have expanded around 3% in June 2019

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