According to June indicators, Peruvian economy is estimated to have grown by about 2.5% in the second quarter of 2015, which translates into better results from May, thanks to electricity production, Banco de Credito’s Economic Studies Department Manager Carlos Prieto projected.
Electricity output grew from 5.3% to 5.6%, whereas domestic cement consumption dropped by 1.8%, making it the lowest quarterly figure in the said three-month period.
Public investment showed a decline smaller than the fall recorded in the first five months of the year, decreasing 10.3% in real terms.
The risk of a more marked slowdown in private consumption remains, in light of the labor market deterioration, while employment rates fell by 2.2 percentage points in June.
In May, the economic activity expanded just by 1.2%, the second lowest figure of the year after February’s (1.0%).
“The economy recorded a cumulative increase of 2.1% between January and May, and of 1.6% in the last twelve-month period,” reads the report.
(END) JCC/JCC/RMB/MVB
Published: 7/21/2015