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Macroeconomic outlook report: Peru

Second quarter of 2018

During the second quarter of 2018, Peruvian GDP registered a year-over-year growth rate of 5.42%, after experiencing an acceleration of 2.33 p.p. compared to the previous quarter. This was due to higher growth in domestic demand, which accelerated by 2.08 p.p. with respect to the previous quarter, standing at 6.27%. As for the labor market, the unemployment rate decreased to a rate of 6.22%, while the employment rate accelerated to 0.95%. The Peruvian sol depreciated against the US dollar, reaching an exchange rate of 3.26 S/./$ in the second quarter of 2018. The inflation rate increased to 0.95%, 0.02 p.p. above that registered in 1Q18.

Macroeconomic overview

  • The year-over-year growth rate of the Peruvian GDP registered an acceleration of 2.33 p.p. in the second quarter of the year compared to the previous quarter, to stand at 5.42%. This behavior was due to the growth of domestic demand, which increased by 2.08 p.p. up to 6.27%, driven by private consumption and investment..
  • As for the external sector, exports accelerated while imports decelerated, by 0.09 p.p. and 1.08 p.p., respectively.
  • With regard to the labor market, the unemployment rate stood at 6.22% after a decrease of 1.84 p.p. with respect to the first quarter of 2018. Regarding the y/y rate of employment creation, it accelerated by 0.57 p.p. to 0.95%.
  • The Peruvian Sol registered an exchange rate against the dollar of 3.26 S/./$ in the second quarter of 2018, which represented a depreciation of 0.02 sol per dollar compared to the previous quarter.
  • Inflation stood at 0.95%, after rising 0.02 p.p. with respect to 1Q18. This behavior was mainly explained by an expansive monetary policy and a cyclical economy recovery.

For more information, click here to access the executive executive document in pdf (only avalaible in Spanish).

© GMS Management Solutions, S.L., 2019. All rights reserved. The information contained on this publication is of a general nature and does not constitute a professional opinion or an advisory service. The data used in this publication come from public sources. GMS Management Solutions, SL assumes no liability for the veracity or accuracy of such data.