Skip to main content

Macroeconomic outlook report: Peru

Fourth quarter of 2018

During 4Q18, the Peruvian Gross Domestic Product registered a 4.83% year-over-year growth, accelerating by 2.56 p.p. with respect to the rate corresponding to the previous quarter. This behavior was mainly due to the performance of internal demand, which accelerated 0.81 p.p. compared to 3Q18, to a rate of 3.79%. In the labor market, the unemployment rate decreased 0.11 p.p. compared to 3Q18, reaching 6.09%. The year-over-year growth rate of employment creation in Peru stood at 1.61%, after accelerating by 1.20 p.p. from the previous quarter. The Peruvian Sol depreciated against the U.S. dollar in comparison with 3Q18, up to an exchange rate of 3.37 S/./$. The inflation rate increased in 4Q18 to 2.07%.

Macroeconomic overview

  • The year-over-year growth rate of the Peruvian GDP registered during 4Q18 an acceleration in its year-on-year GDP growth rate of 2.56 p.p. with respect to 3Q18, to a rate of 4.83%.
  • This acceleration in GDP growth was mainly due to domestic demand, which accelerated its year-over-year growth by 0.81 p.p. with respect to 3Q18 to 3.79%.
  • With regard to the labor market, the unemployment rate in the Peruvian labor market stood at 6.09%, which represented a reduction of 0.11 p.p. with respect to the previous quarter. On the other hand, the year-over-year growth rate of employment in Peru accelerated by 1.20 p.p. with respect to the previous quarter, reaching 1.61%.
  • The average exchange rate of the Peruvian sol against the U.S. dollar increased in the fourth quarter of the year with respect to the previous quarter, to 3.37 S/./$, which represented a depreciation of 0.08 soles per dollar.
  • The inflation rate rose in 4Q18 to 2.07%, 0.75 p.p. higher than in 3Q18, thus meeting the Central Bank's target of between 1% and 3%.

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.