Peru’s Growth Falls Short of Even the Most Pessimistic Forecast
- Economic activity grew 0.31% year over year in April
- Economists expected 1.7% growth; some expected growth above 2%
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Peru’s economy grew much less than expected in April, in a blow to the country’s government which has been focused on increasing growth after crippling protests.
The economy expanded 0.3% from the same month a year ago, the national statistics agency reported Thursday. The median forecast of nine analysts surveyed by Bloomberg was over five times higher, at 1.7%. Only two analysts had estimates below 1%, three expected 2% or higher.