Peru: Economic activity growth gains steam in October
Latest reading: Economic activity expanded 3.4% year on year in October (September: +3.2% yoy). The acceleration came largely on the back of upturns in the commerce and agricultural sectors. In contrast, activity in the manufacturing sector moderated, while mining and hydrocarbons output contracted at a steeper pace than in September.
On a monthly basis, economic activity was flat in October (September: -0.3% mom). Meanwhile, the trend improved, with the annual average growth of economic activity coming in at 2.5%, up from September’s 2.1%.