Peruvian economy posted a 2.57% growth rate in August this year, underpinned by the dynamic mining activity — which has seen a two-digit growth — reaching 73 months of continuous growth, Peru’s National Institute of Statistics and Informatics (INEI) reported.
So far this year cumulative GDP growth has been 2.55% and a 2.18% growth was registered in the last 12-month period, INEI’s head Anibal Sanchez informed.
Most sectors posted positive results including those of mining and hydrocarbons, trade, financial services and insurance, telecommunications and services to businesses.
The economy’s positive performance was mainly driven by the dynamic private consumption.
This way retail activity grew by 2.42%, imports of non-durable consumer goods by 9.30% and consumption credits by 18.66%.
Likewise, government consumption expenditure rose 17.31 due to higher spending on goods and services (25.01%) and underpinned by increased external demand for traditional (3.38%), mining and fishing products.
The sectors that experienced growth rates were agriculture (1.18%) mining and hydrocarbons (6.10%), electricity, gas and water (6.73%), trade (4.02%), transportation, storage and mail (3.02%) and accommodation - restaurants (2.73%).
Expansion was also recorded in the following segments: telecommunications and other informative services (7.49%), financing and insurance (8.92%), services to businesses (4.26%), public management, defense and others (3.42%) and other services (3.93%).
On the other hand, fisheries, manufacturing and construction sectors shrank 10.31%, 2.15% and 8.12%, respectively.
(END) RGP/JJN/RMB/MVB
Published: 10/15/2015