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Macroeconomic outlook report: Peru

Second quarter of 2017

During the second quarter of 2017, the y/y growth rate of Peruvian GDP stood at 2.43%, after registering an increase of 0.25 p.p. with respect to the previous quarter. The growth rate of domestic demand increased 1.22 p.p. with respect to the previous quarter, up to the 0.17%. With regard to the labour market, the unemployment rate decreased to a rate of 6.92%, while the employment rate increased to the 1.38%. The Peruvian Sol appreciated with respect to the dollar in this quarter, reaching 3.26 S/./$. Inflation stood at 3.16% in 2Q17, after decreased by 0.29 p.p. with respect to 1Q17.

Macroeconomic overview

  • Peruvian GDP y/y growth rate experienced an increase of 0.25 p.p. during the second quarter of the year with respect to the previous one, up to a rate of 2.43%. The main driver of this behavior was the increase of domestic demand. The BCRP forecasts Peruvian GDP growth at 2.80% and 4.20% in 2017 and 2018, respectively.
  • Domestic demand increased by 1.22 p.p. with respect to the previous quarter, reaching a 0.17% in 2Q17. This increase is explained by the recovery of the private consumption and the increase in gross investment.
  • Regarding the labour market, the unemployment stood at a rate of 6.92% after a decrease of 0.80 p.p. with respect to 1Q17, while the employment reached a rate of 1.38% after increasing by 0.86 p.p.
  • The exchange rate of the Peruvian sol stood at 3.26. S/./$. in this period, which represents an appreciation against the dollar of 0.77% when compared to the previous quarter. The appreciation was supported by the recovery of commodity prices, particularly of oil.
  • Inflation stood at 3.16% in 2Q17, after decreased by 0.29 p.p. when compared to the previous quarter. This behaviour is explained by the decreased in the price of perishable food, as a consequence of the recovery of the climatic disturbances caused by El Niño.

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.