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PERU: November Economic Activity, December Unemployment Due At 1500GMT

PERU
BulletPeruEM BulletEmerging Market News
  • Economic activity is expected to slow in November, with the annual rate of growth moderating to 3.2% y/y, from 3.4%, according to the median estimate within the Bloomberg survey (1500GMT/1000ET). At the same time, the Lima unemployment rate is seen ticking up to 5.8% in December, keeping it close to nine-year lows.
    • Nov. Economic Activity YoY, est. 3.2%, prior 3.4%
    • Dec. Lima Unemployment Rate, est. 5.8%, prior 5.7%
  • If in line with expectations, the activity data would keep the economy on course to grow by 3.2% last year, which would be one of the best annual results among countries of the region. As for this year, the central bank expects the Peruvian economy to grow by 3.0%, supported by a 4.1% rise in private investment on the back of robust mining investment.
  • Though private consumption appears to have softened into year-end, amid the waning impact of pension fund withdrawals by households, consumer spending should still be supported by low and stable inflation, and positive employment and wage growth trends.
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  • Economic activity is expected to slow in November, with the annual rate of growth moderating to 3.2% y/y, from 3.4%, according to the median estimate within the Bloomberg survey (1500GMT/1000ET). At the same time, the Lima unemployment rate is seen ticking up to 5.8% in December, keeping it close to nine-year lows.
    • Nov. Economic Activity YoY, est. 3.2%, prior 3.4%
    • Dec. Lima Unemployment Rate, est. 5.8%, prior 5.7%
  • If in line with expectations, the activity data would keep the economy on course to grow by 3.2% last year, which would be one of the best annual results among countries of the region. As for this year, the central bank expects the Peruvian economy to grow by 3.0%, supported by a 4.1% rise in private investment on the back of robust mining investment.
  • Though private consumption appears to have softened into year-end, amid the waning impact of pension fund withdrawals by households, consumer spending should still be supported by low and stable inflation, and positive employment and wage growth trends.