Peruvian economy expanded 1.55% in July this year, thus marking 96 straight months of growth, National Institute of Statistics and Informatics (INEI) reported Friday.
The result was driven by a rebound in non-primary sectors such as
construction and
trade.
This way, productive activity has expanded 2.19% so far this year and 2.89% in the last 12 months (August 2016 – July 2017), INEI head Anibal Sanchez indicated.
The reading thus remains in line with the Economy and Finance Ministry GDP forecast, projected at 1.5% for the seventh month of 2017 and at 2.2% for the Jan-Jul 2017 period.
However, deseasonalized GDP slid 0.7% following three months of increase in
June (0.9%),
May (0.79 %) and
April (0.47 %).
Factors
Sanchez explained said
result was underpinned by the positive evolution of foreign demand and a consequent 11.69% rise in non-traditional exports (in real terms):
farming,
textile, fishing, and metal-mechanic.
“The recovery in domestic demand also contributed to this result, as evidenced by growing imports of non-durable consumer goods (8.33%),
retail sales (1.17%) and consumer credit (1.86%),” the INEI chief pointed out.
(END) MMG/CNA/MVB