Peruvian GDP Grows 4.4% YoY in Q3
In the third quarter, Peru’s economy expanded 4.4 percent when compared to the same period last year, down from 5.6 percent in the previous quarter. The slowdown was mainly due to decelerating investments and weak exports.
On the production side, services went up by 6.1 percent year-on-year, mainly fueled by financial and insurance activities (up by 9 percent). Water and electricity went up by 6 percent, while construction increased 5.8 percent. Commercial activities expanded 5.1 percent, mining went up 3.1 percent, and manufacturing grew 1.4 percent. In contrast, fishing contracted 1 percent.
On the expenditure side, government consumption expanded 7.2 percent, while private spending went up 5.2 percent. Investments increased 2.8 percent, down from 8.6 percent in the previous quarter. In contrast, exports shrank for the third consecutive quarter by 2.5 percent, while imports increased 1.2 percent, year-on-year.
On a quarter-on-quarter basis, the GDP expanded 0.8 percent, down from a revised 1 percent in the previous quarter.
11/25/2013 9:49:45 AM