Peru GDP Growth at 3-Quarter High
Peru's economy grew 3.0 percent year-on-year in the third quarter of 2019, following an unchanged 1.2 percent advance in the previous three-month period. It was the fastest growth rate in three quarters, as public spending jumped 7.5 percent, mainly driven by roads, education and the Panamerican Games. Meanwhile, private consumption grew 2.9 percent, mainly nudged by food (+3.4 percent) and services (+3.3 percent). Gross private investment climbed 5.2 percent, led by machinery and equipment (+8.6 percent). By sectors, growth was led by oil extraction (+14.7 percent), restaurant & hotel services (+5.1 percent), financial services (+4.7 percent), utilities (+3.9 percent), and manufacturing (+3.1 percent). On a quarterly basis, GDP expanded 0.6 percent.
6 hours ago