Peru’s economy expands 2.09% in October

Peru economic growth Peru’s economy rose 2.09% year-on-year in October, said the country’s government on Sunday. 


The expansion was boosted by improving domestic demand and a slight rebound in the mining sector. 


The growth failed to reach forecasts in a Reuters poll however, which had expected a 2.6% rise for the month. October’s data was also slowed than the 2.22% increase recorded the previous month, and was far below the 4.12% expansion posted in October last year. 


The state statistics agency INEI said in a statement that the domestic economy climbed 2.16% during the first 10 months of the year, and 2.64% in the twelve months ending October.  


Economic growth was boosted by commerce, construction and agriculture, while increased volumes in zinc, iron, lead and silver supported the key mining and hydrocarbons sector, which edged higher following a downbeat performance the month prior. The South American nation is the world’s second-largest producer of copper and zinc. 


The country’s economic and finance minister said: “The recovery of the advanced indicators of economic activity anticipates higher growth rates in November and December.”


The government and central bank estimate Peru’s economy to surge 2.6% in 2019, below expectations at the beginning of the year, as the global economic slowdown impacted most countries. 


 


Read today's latest news updates – Business activity in France remains stable in December

Facebook
Twitter
LinkedIn
Reddit
Email

The deVere Group of Companies, is licensed in various jurisdictions, however, the products and services offered by the respective entities may vary per jurisdiction. The deVere Group does not warrant, either expressly or implied, the accuracy, timeliness, or appropriateness of the information contained on this website. The deVere Group disclaims any responsibility for content errors, omissions, infringing material and any responsibility associated with relying on the information provided on this website. For more country-specific products and services offered by the deVere Group of Companies, you may wish to visit the specific national deVere website, if and where available. The information contained in this website is for general guidance on matters of interest only. The application and impact of laws can vary widely based on the specific facts involved and your country of residence. Before making any decision or taking any action, you should consult a deVere Group Financial Advisor.

© 2010 – 2022 deVere Group. All rights reserved.

© 2010 – 2022 deVere Group. All rights reserved.

Tell Me More