Scotiabank: Peru GDP would ‘have picked up’ in June and expanded by about 2%

The Gross Domestic Product (GDP) would have recovered last June by displaying "more dynamism" than that of May and would have expanded by about 2%, the analyst at Scotiabank’s Economic Research Department Carlos Asmat estimated.

 

"For the month June, we expect to reach a higher level of economic activity than that of May (1.2%), although with a lower repercussion on fishery sector," Asmat told Andina news agency.

 

According to Scotiabank weekly report, the positive factors are the electricity output, which grew by 5.5% in June, a slightly higher rate than the one registered last April.

 

Mining and hydrocarbons

 

Another positive feature was the recovery of hydrocarbons, driven by the increase of natural gas production (21.4%) after falling in February this year.

 

Perspectives

 

In the short-term, the economic activity is expected to register growth rates close to: 2% (short-term) and 3% in the last months of the year.

 

It should be noted in May 2015, the year-on-year growth was 1.2%.