Peru: Economic activity speeds up in February
Latest reading: Economic activity was up 3.7% on a year-on-year basis in February, following 3.5% growth in the prior month, exceeding market expectations.
Relative to the prior month’s data, readings in February improved for commerce (+6.1% on a year-on-year basis vs +4.3% in January) and manufacturing (+2.7% vs -1.4% in January). In contrast, readings worsened for agriculture (+0.7% vs +4.0% in January), construction (+8.9% vs +15.6% in January) and mining and hydrocarbons (-1.1% vs +3.1% in January).
In month-on-month terms, economic activity flatlined in February, following a 0.6% increase in the previous month.
Panelist insight: Regarding their forecasts for the following month’s reading, BBVA analysts said: “