Peru: Economic activity closes 2019 on a sour note
In December, economic activity grew a puny 1.1% year-on-year, decelerating markedly from November’s already unremarkable 1.9% outturn and surprising market expectations on the downside. Therefore, economic activity in 2019 as a whole expanded 2.2%.
In terms of industries, December’s expansion was underpinned by healthy growth in the trade, agricultural, accommodation and restaurants and telecommunication sectors. Meanwhile, the manufacturing and construction sectors reported sizable drops in the month, while production in the fishing sector nosedived.