"Our initial [growth] projection for this period was 2.8%. Now, we believe [private] consumption might rise above 3%," he told El Peruano official gazette.
According to Mongilardi, this revision results from the fact that economic agents are more dynamic, as they are confident in a better year-end campaign.
Within this context, he highlighted the increase in public investment
growth-rates witnessed over recent months, particularly the figures registered in Peru's northern regions previously stricken by Coastal El Niño phenomenon
"We have noticed an acceleration in the execution of public works, which boosts private investment
," Mongilardi pointed out.
Likewise, the CCL representative explained this situation will mean higher revenue, thus resulting in higher consumption.
Likewise, CCL projected the trade sector
will expand 1.9% in the last quarter of 2017.
Also, it must be noted the aforementioned business guild forecasts said sector may have grown 1.7% between July and September 2017.
"We project Peruvian economy will expand 3.4% during the last three months of the current year," Mongilardi concluded.