86981
Peru Economy Strengthens
Peru Economy Strengthens

Peru Economy Strengthens

Peru Economy Strengthens

Economic growth in Peru strengthened in the first quarter driven by an improvement in domestic demand. Growth was strongest in agriculture, fisheries, construction, other services and commerce. Q1 was up 3.2% versus a year earlier.
The Peruvian economy, one of the strongest and most consistent performers in South America over the past several decades, fell into a weak spell as economic conditions in the global economy deteriorated, FXStreet reported.
However, it seems that consistent economic policies are starting to relieve this situation, as economic growth improved to 3.2% on a year-earlier basis in Q1, the strongest year-over-year since Q3-2016.
Although segmented data from the demand side of the economy is not yet available, the supply side numbers, plus the release of domestic demand results, show a very strong domestic economy in the first quarter. Domestic demand increased 4.2% on a year-earlier basis in Q1.
The mining sector, which has been one of the leading sectors of the Peruvian economy, remained weak, growing only 0.6% during the quarter. Still, mining output increased 1.7%, while fuel production dropped 5.9%.
The strongest sector during the quarter was fisheries, up 6.1%, while agriculture and livestock output increased 5.7%. Likewise, construction increased a strong 5.1%, while other services did so at a 4.3% pace. Meanwhile, commerce output, which can be used as a proxy for personal consumption expenditures, increased at a slower but still respectable pace of 2.7%.
Manufacturing sector increased 1%, as raw materials manufacturing increased only 0.1% during the quarter, while non-primary products manufacturing improved 1.4%. Public utilities output increased 1.4%, all on a year-over-year basis.

 

Short URL : https://goo.gl/zoRYT4
  1. https://goo.gl/7WbMF6
  • https://goo.gl/rMGGXD
  • https://goo.gl/A6EMS7
  • https://goo.gl/kFrqHu
  • https://goo.gl/DRVNfV

You can also read ...

Lower-income families, already pinching pennies, are most exposed, given the likelihood of tariff-related price increases on everyday items.
China canceled trade talks with the US and will no longer send...
Dairy Exports Hinder US-Canada Deal
One of the last remaining points of contention in the trade...
Apple Begins Selling IPhone XS, XS Max Worldwide
Apple’s newest iPhone XS went on sale worldwide Friday as...
EU foreign affairs chief Federica Mogherinia (L) and Transport Commissioner Violeta Bulc present the proposal  for an EU strategy for connecting Europe and Asia.
While European Union leaders were in the middle of another...
Japan to Resist New Auto Tariffs
The Japan-US ministerial-level trade talks scheduled on Monday...
Turkey, Venezuela Plan to Use Local Currencies
Turkey and Venezuela are eager to use local currencies in...
Pakistan Seeks  to Increase  Exports to China
In a positive development, an important mission from China is...
South Africa Says Will Swim Out of Recession
South African President Cyril Ramaphosa has ambitious plans to...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus