Peru's GDP may have grown by 3.5% in 2nd quarter, says Inteligo SAB

In the second quarter of the year, Peruvian economy would have grown by 3% - 3.5% driven mainly by the mining and fishery sectors.

 

This reveals the worst is "already" over for the national production, broker Inteligo SAB estimated.

 

Between April and June, the GDP growth rate would have doubled compared to the result registered in the first three-month period of the current year (1.7%).

 

"The entrepreneurial expectations continue displaying a 'mixed behavior’ and the worst has already been left behind," Inteligo SAB’s Estrategia Global (Global Strategy) 3T2015 report indicated.

 

"The worst has already passed and the recovery process might be more tangible throughout the second quarter of 2015, mainly driven by supply factors, such as a higher mining production and gradual acceleration of the global economy," it specified.

 

Nonetheless, it affirmed the economic indicators, such as domestic purchases of cement and capital goods imports, do not display any upturn signs yet.