Peru posted gross domestic product (GDP) growth of a slight 1.16 percent for July, marking the 60th straight monthly rise, the country’s Central Statistics Agency reported on Monday.
The latest estimates from the National Institute of Statistics and Informatics (INEI) reveal that the nation’s economic output accumulated an annual growth of 4.4 percent over the last 12-month period.
Alejandro Vilchez, INEI’s head, noted that multiple factors were influencing GDP growth in the seven month of the year, among which the expansion of private consumption during the period under review stood out.
Likewise, the commercial activity recorded an expansion of 4.21 percent on the back of the greater allocation of consumer credit, use of credit cards and car loans.
Likewise, he said, the sectors which recorded a strong performance during the reported period were agriculture, fishery, energy, commerce and transportation.
The central bank this month cut its forecast for the 2014 expansion, expecting it to peak at rate close to 4 percent.
(END) AAC/RES/LOG
Published: 9/15/2014