Gross Domestic Product (GDP) will see growth of 3.5% to 4% in the first quarter of 2019, affected by a fall in public investment at local level (regions and municipalities), but boosted by 2 more business days as the holidays for the Passion Week will be in April, Banco de Credit del Peru (BCP) said today.
In November, economic activity rose 5.3%, the highest for six months, and again surpassed market outlook (4.7%, according to Bloomberg's consensus). In this way, the economy gained an expansion of 3.8% in the first 11 months of 2018, says the BCP Economic Survey.
He pointed out that economic activity would keep growth of about 5% in December due to the positive impact of the second fishing season (50% of the quota was caught this month). Also strong indicators related to non-primary sectors, given that electricity production continued to accelerate to 6.9% and domestic cement consumption would increase by 6%.
On the other hand, the PA said its growth forecast for the Peruvian economy for 2019 was 3.7% since August last year.