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Macroeconomic outlook report: Peru

First quarter of 2018

During the first quarter of 2018, Peruvian GDP registered a year-over-year growth rate of 3.09%, after experiencing an acceleration of 0.81 p.p. compared to the previous quarter. This was due to higher growth in domestic demand, which accelerated by 0.16 p.p. with respect to the previous quarter, standing at 4.19%. As for the labor market, the unemployment rate grew to a rate of 8.07%, while the employment rate slowed down to 0.38%. The Peruvian sol appreciated against the US dollar, reaching an exchange rate of 3.24 S/./$ in the first quarter of 2018. The inflation rate decreased to 0.93%, 0.72 p.p. below that registered in 4Q17.

Macroeconomic overview

  • The year-over-year growth rate of the Peruvian GDP registered an acceleration of 0.81 p.p. in the first quarter of the year compared to the previous quarter, to stand at 3.09%. This behavior was due to the growth of domestic demand, which increased by 0.16 p.p. up to 4.19%, driven by private consumption and investment.
  • As for the external sector, exports accelerated to a greater extent than imports, by 2.52 p.p. and 0.17 p.p., respectively.
  • With regard to the labor market, the unemployment rate stood at 8.07% after an increase of 1.63 p.p. with respect to the fourth quarter of 2017. Regarding the y/y rate of employment creation, it slowed down by 0.33 p.p. to 0.38%.
  • The Peruvian Sol registered an exchange rate against the dollar of 3.24 S/./$ in the first quarter of 2018, which represented an appreciation of 0.01 sol per dollar compared to the previous quarter.
  • Inflation stood at 0.93%, after falling 0.72 p.p. with respect to 4Q17. This behavior was mainly explained by the lower growth in food and energy prices.

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

© GMS Management Solutions, S.L., 2018. 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.