Peru Economic Activity June 2022

Peru

Peru: Economic activity growth gains momentum in June

August 18, 2022

Economic activity expanded 3.4% compared to the same month a year earlier in June, which was above May's 2.5% increase. Looking at the details of the release, the commerce sector weakened in June, while the agricultural sector swung to contraction. Meanwhile, the construction sector expanded. Lastly, activity in the manufacturing sector rose at a stronger rate, while mining and hydrocarbons output gained momentum.

On a monthly basis, economic activity rose at a quicker rate of 0.3% in June (May: +0.2% mom). Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at an over one-year low of 5.4%, down from May's 6.8%.

LatinFocus Consensus Forecast panelists estimate that GDP will expand 3.1% in 2022, which is unchanged from last month’s projection, and grow 3.0% in 2023.


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