Indicators
Peru’s Economy Beats Expectations Again as Recovery Gains Steam
- Economic activity rose 5% year-on-year in May, est. was 4.4%
- Central bank has held key rate steady in last two meetings
Growth in May was boosted by a more than 300% surge in fishing.
Photographer: Paul Gambin/BloombergThis article is for subscribers only.
Peru’s economy expanded more than expected for the second straight month in May, cementing its recovery from a recession last year.
The economic activity index, a proxy for gross domestic product, rose 5% from a year prior, the national statistics agency reported on Monday. It matched the highest forecast in a Bloomberg survey of analysts that had a 4.4% median estimate.