Economy

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Pollo mani
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Economy

Postby Pollo mani » Mon Mar 03, 2014 7:56 pm

Seems things could be head down sooner then later. Sorry it is in Spanish.

http://ldavelouis.wordpress.com/2014/03 ... -en-julio/


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Re: Economy

Postby tupacperu » Thu Mar 13, 2014 2:52 pm

All indicators for the last 6 months do not point to GDP of 5% or more in 2014 and beyond
- Copper has taken a dive (today)
-Sol Devaluation
- consumer credit has registered high delinquency rate.
-The gov't has lowered banking reserve requirements to loan more money.


The deceptive part is that mining now has been recalculated in the GDP. It is carrying more weight in the calculation of GDP, which Peru has revised from 5.0 to 5.3 for January 2014 (they changed the calculation to benefit the GDP growth).

Now Peru has sent Castilla on a road show to the USA to attract more investors. Looking for investors is a sign of desperation. If it is a good investment, investors will find Peru.

Then there is the big kicker today:
China's-deceleration will-continue into 2014


http://www.bloomberg.com/video/china-s- ... KWnvA.html

I have been monitoring the economic news out of Peru, though the Gov't paints a positive picture. you are not going to grow an economy on construction and consumer demand (boils down to housing which is carrying the economy).

I have been saying this for the last year or more. (Not sustainable without economic diversification ).
Most of the economy is in Lima and there was never an effort to decentralize into the Provinces.


The prospects in this scenario are not positive . Peru 's economic growth , which has lifted millions out of poverty Peruvians are going to put on the brakes . It is natural, super 20-year economic cycle is ending , that's no secret , everyone knew it would happen , it was just a matter of more or less predict when. And it seems that the time starts now. The biggest problem , however , is that at least half of those seven million Peruvians who became middle class in the last 11 years , are highly vulnerable ( vulnerable crudely ) to any contraction in growth rate or have difficulty affect their income , from appendicitis or any other disease such as cancer, AIDS or tuberculosis ( which expand silently ) or only one of the family members lose their jobs.

The head of the World Bank's Latin America , Augusto de la Torre , an economist told me in an interview I did in November last year that if the growth of the economy of Latin America went from 3% to 2% half of people out of poverty ( what has been called the unconsolidated middle class) would again be poor. The same applies to the Peruvian economy : if you grow 5.5 % on average to grow 4% , reducing unemployment will stop. If the growth rate falls to 3.5% about 3.5 million people would return to poverty. The promise of growth-employment - welfare broken.
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Re: Economy

Postby tupacperu » Thu Mar 13, 2014 4:43 pm

Indicators: News of the week ...

New vehicle registrations in Sunarp falls 4.9% in first two months

http://gestion.pe/noticias-de-hyundai-2 ... f=nota_tag


Copper fell to a minimum of 44 months to U.S. $ 2.92 a pound

http://gestion.pe/mercados/cobre-cae-an ... na-2091643



Cards:
January this year was the month in which delinquencies on credit cards in Peruvian banks and financial institutions reached a record high of 6.19% according to the Association of Banks of Peru (Asbanc).

http://elcomercio.pe/economia/negocios/ ... ia-1715722
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Re: Economy

Postby tupacperu » Sat Mar 15, 2014 3:50 pm

More Indicators Headlines: Gestion.pe
Peru among the five emerging countries more vulnerable to dropping demand in China
15:19
A ranking published by The Financial Times, showed that Chile is the most vulnerable country a slowdown in exports of non-food commodities to China.


Unemployment in metropolitan Lima rises to 7%, the highest rate since mid-2012
11:53
The INEI presented the results of the mobile quarter December-January - February, where pointed out that the total number of unemployed in the capital sum 347,700 people.



Peruvian economy grew up 4.23 percent in January, below expectations
10:22
According to INEI January growth rate is the lowest in the past seven months, when in June of 2013 the growth of GDP was 4.37%.

SPANISH:

Perú entre los cinco países emergentes más vulnerables si cae demanda en China
15:19
Un ranking publicado por The Financial Times, mostró que Chile es el país más vulnerable una desaceleración en las exportaciones de commodities no alimentarios hacia China.


Desempleo en Lima Metropolitana sube a 7%, la tasa más alta desde mediados del 2012
11:53
El INEI presentó los resultados del trimestre móvil diciembre-enero-febrero, donde señala que el total de desempleados en la capital suma 347,700 personas.



Economía peruana creció 4.23% en enero, por debajo de las expectativas
10:22
De acuerdo con el INEI la tasa de crecimiento de enero es la más baja de los últimos siete meses, cuando en junio del 2013 el crecimiento del PBI fue de 4.37%.
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Re: Economy

Postby tupacperu » Sat Mar 15, 2014 6:52 pm

More Emerging market news: Gestion.pe (3/15/14)
Local investors are joining the exodus from emerging markets
06:32
Local financial markets are becoming too small to absorb the funds flows and less attractive to the extent that domestic economies slow.

(Reuters)-local investors are becoming a new source of headaches for the emerging markets, because they are looking for overseas investments more stable and liquid, attracted by strengthening the external currency and changes in domestic regulation.
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Re: Economy

Postby teamoperu » Sun Mar 16, 2014 8:03 am

Thanks for posting this information. I like it when punters post factual information rather than incorrect undemocratic gobbledygook. Watching the economy is interesting, but sort of like predicting the weather. They try to predict the weather one week, one year in advance – rarely do they get it exactly correct. They try to predict the economy one month, one year in advance – rarely to they get it exactly correct, so these reality checks (GDP is .5% less than expected) are really just a check against a how good or bad the guess was. When predicting the weather, they know it will be more or less as it has been so their guesses are more or less close, as with economic predictions. They know the weather will have dramatic events, major storms, el Niño, but they are not very good at predicting these long-term. They also know the economy will have dramatic events and they are not very good at predicting these either – witness the poor record of many pundits predicting the recent housing crash, European downturn, heck, even the Great Depression, tho perhaps they have gotten better since then. But it is the poorly predicted big events that give big gains or big losses. No?

"The only function of economic forecasting is to make astrology look respectable." - John Kenneth Galbraith :)
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Re: Economy

Postby tupacperu » Mon Mar 17, 2014 11:57 am

Peru January 2014 GDP weakest in eight months (4.23%), manufacturing drags.
You do not have to be a rocket scientist to view the indicators. On a daily basis the news out of Peru is how they measure up against other countries in Latin America (Not about maintaining high GDP). The indicators during the last 30 days were not stellar, which lead up to the 4.23% GDP.

GDP is like the weather, if you do not have a stake in the economy. Sunny one day, gloomy the next (who cares).
It is much like the weather, but on a seasonal basis, but 7 to 10 year cycles. Economies are cyclic or as they say, "what goes up must come down". Even first world economies have their Boom and Bust cycles. Sorry if the news irritates you a little. My interest is in investing in a BUST cycle (Buy low, Sell High). 2007 is where the economy started to take off (Peru). Who knows if there will be a soft landing or a hard bust. I am just staying vigilant :)

The dynamics are interrelated: A percentage point drop in GDP may result in 115,000 jobs loss in the US. I do not have the statistics for Peru, but I am sure it has the same effect.


As for predictions on the economy, they usually come from a Gov't agency who wants maintain confidence. But there are economist on both side of the issue. It is just that people take what the Gov't agency reports as gospel (blind faith). Remember 2008, when the sky fell in? Bush: Economy Is 'structurally Sound'. If there is any good news on the economy in Peru , have not read much lately. Just reporting the ominous signs not the warm and fuzzy stuff. #There'sADownsidetoeverything

Peace

The Prediction was 6% for 2013, the real figure came out to 5.02 (.98% drop).


The gobblie-goop is coming for the BCR and the Gov't of Peru who want to keep investors optimistic.
You cannot build an economy on Consumer Demand and Construction (Housing). We've learned our lesson from this in the USA.
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Re: Economy

Postby tupacperu » Mon Mar 17, 2014 12:32 pm

Financial Cycles (Not just he weather report)

Claudio Borio:


The study of the financial cycle leads Mr Borio to some unorthodox conclusions. First, he restates his earlier finding that a combination of strong credit growth and rapidly rising real estate prices provides a robust real-time indicator of financial fragility. The global financial crisis, which followed a global credit and real estate bubble, should not have come as a complete surprise. Second, the fixation of central bankers with inflation targets is misguided since the most dangerous credit booms, such as Japan’s in the 1980s, occur when inflation is quiescent. Third, it is important to understand how the financial cycle shapes the structure of the economy. Reckless credit expansion spurs unsustainable bouts of growth and results in the misallocation of capital (or what Austrian economists call malinvestment).
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Re: Economy

Postby tupacperu » Mon Mar 17, 2014 2:25 pm

Investment in mining exploration fell 26% in 2013 and totaled US $760 million
ECONOMY (Gestion.pe)
13:37 3/17/2014
Downward trend is worrying, although the level of investment of the 2013 remains a significant figure and is the second largest figure registered in Peru..
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Re: Economy

Postby tupacperu » Thu Mar 20, 2014 9:51 am

Regarding the FED and QE:

" The next five years will not be fun for Latin America ," said Tony Volpon , head of research at emerging markets at Nomura in a report . "The winds against the normalization of monetary policy and lower commodity prices will continue to affect the region ,"
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Re: Economy

Postby tupacperu » Thu Mar 20, 2014 9:58 am

Investment to slow the rise in the exchange rate
Thursday, March 20, 2014

IMPRESA00 : 03
- Request reduces capital goods because it expensive to rising dollar , says the Central Bank. He says that Peruvians and banks are cautious dollar debts .


OMAR MANRIQUE P.
[email protected]

The rising dollar is affecting , in part , private investment , the Central Reserve Bank ( BCR) said.

" The rise in the exchange rate also makes some demand for capital goods , which become more expensive for depreciation ( the nuevo sol against the dollar) to slow ," said Central Bank President Julio Velarde .

So far this year , the U.S. currency rises 0.46% of S / . 2.80 to S/.2.813 , after climbing nearly 10 % in 2013.

This trend has led to the demand for dollar loans is reduced considerably because people and companies fear that these obligations are more expensive to envisage a scenario in which the dollar would continue to rise.

"In general, Peruvians are cautious with dollar debts and banks as well," said the head of the BCR .

In that line , highlighted the rapid decline in foreign currency loans in recent months , a process of " de-dollarization will continue ."
Today , less than 40 % of the appropriations of the financial system is in dollars. In the last 12 months to January, the appropriations in this currency only grew by 2% , while the soles granted rebounded by 23% .

Counting both currencies , total credit increased at an annual rate of 13.7 % in January.

deposits
The upward trend of the dollar is also causing a rapid increase in deposits in that currency.

" So banks are dropping interest rates on deposits in foreign currency because they spare the dollars," Velarde said during his presentation at the Peruvian Investors Forum, organized by Latin Markets.

Downplayed the quick deposit dollarization , because , he said , a process that is being carried out mainly institutional investors ( AFP ) .

" An institution is moving very quickly from side to side , are not people, money is the hot ( ' hot money ' investors move in the short term ) ," he said . In addition , the central bank noted that in the past two weeks revived appetite for foreign currency sovereign bond investors.

Housing is cheaper in residential districts

A slight downward correction is observed in the prices of residential districts , said Central Bank President Julio Velarde .
In addition , he referred to the advancement of property prices to other socioeconomic strata.

"It's hard to see a bubble (real estate) . If the increase in housing prices is by fundamentals , we see increased risk , "he said in the Peruvian Investors Forum.

Moreover , he indicated that there is a potential supply of housing projects in the vast uncultivated lands surrounding the metropolis, and so far they are not exploited by the lack of a development plan .
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Re: Economy

Postby tupacperu » Sun Mar 23, 2014 8:18 am

Slowdown in Emerging Economies

http://blogs.gestion.pe/economiaparatod ... entes.html

21/03/2014 06:4114
After the financial crisis that erupted in 2008 , emerging economies led the global economic growth and many analysts are " decoupled " from advanced in the sense that they could continue to grow apart from them. The reality was that it was not.

The slowdown is defined as a process in which economies grow less phenomenon as seen in the picture has a global dimension and not only locally . Peru has not escaped the trend, despite the injection of liquidity by the BCR through reductions in the reserve requirement , the only thing is that is causing an increase in credit that eventually can be dangerous. The same picture can be seen the growth rates in Latin America and China. In all cases, the tendency is the same and is maintained well . In January 2014, GDP grew 4.23 % in Peru .
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Re: Economy

Postby tupacperu » Sun Mar 23, 2014 7:58 pm

Gestion.pe

Peruvian exports: possible European deflation would be a new blow
The Chinese slowdown and the tapering in the United States, adds another headache: the fall of prices in the euro zone. Carlos Parodi, of the University of the Pacific, explains this "dangerous cocktail".


The consensus among economic forecasters in Europe is that prices will continue to fall in the old continent. The low looks good in the eyes of consumers, but it has a negative impact on investment and slow the economy. And for Peru, the lower prices will inevitably impact on its exports with European destination.
"No one will want to invest in a sector whose prices are falling," warns the Economist from the Centre of research of the University of the Pacific, Carlos Parodi: "when investment shrinks, growth collapses and the economy is turning. That is the problem of deflation." How big is the impact for the Peru?
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Re: Economy

Postby tupacperu » Wed Apr 09, 2014 12:48 pm

Save you the details


Mining exports fell 20.9% in February, according to SNMPE
Wednesday, April 9, 2014

http://gestion.pe/economia/exportacione ... pe-2094121
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Re: Economy

Postby JoshuS » Thu Apr 10, 2014 7:51 pm

tupacperu wrote:Save you the details


Mining exports fell 20.9% in February, according to SNMPE
Wednesday, April 9, 2014

http://gestion.pe/economia/exportacione ... pe-2094121


Ans to all this indicators.
What would the implications be for the Peruvian economy if the dollar were to collapse?

Breaking News: Gazprom Considers 'Symbolic' Yuan Bond Issue, Interfax Says
Though this gesture is symbolic, its true significance can only be understood in context of Putin's trip to China in May. It is widely expected that Russia and China will FINALLY hammer out the long discussed energy cooperation agreement. Gazprom figures to become exponentially more important geopolitically, as pricing issues are resolved and a possible pipeline becomes an unavoidable reality. With these development, only then will such a currency maneuver go from being symbolic to being absolutely crucial. There are a lot of people on Wall St and around the world cringing right now.
This could very well become a big game changer. US Western life style as we know it...." Rome" enjoyed its abusive and rapacious privileged position of empire as long as it lasted. What would the implications be for the Peruvian economy?

Russia Will Decouple Trade From Dollar
http://www.4thmedia.org/2014/04/09/russ ... om-dollar/
"Russia’s trade in hydrocarbons amounts to about a trillion dollars per year. Other countries, especially the BRICS and BRCIS-associates (BRICSA) may soon follow suit and join forces with Russia, abandoning the ‘petro-dollar’ as trading unit for oil and gas.
This could amount to tens of trillions in loss for demand of petro-dollars per year (US GDP about 17 trillion dollars – December 2013) – leaving an important dent in the US economy would be an understatement."

It's On: Gazprom Prepares "Symbolic" Bond Issue In Chinese Yuan
http://www.zerohedge.com/news/2014-04-1 ... inese-yuan
Curious what the fate of the petrodollar is? Look no farther than this Interfax update blasted moments ago by Bloomberg: "Gazprom Considers 'Symbolic' Yuan Bond Issue, Interfax Says."
Bloomberg adds that the gas giant is considering proposals from potential organizers to market bonds in yuan, Interfax reports, citing people with knowledge of the matter.
• Gazprom unlikely be able to gain more than $300m due to mkt volume, newswire reports
• No mandates, deal timeline yet
• Issue may add new investors, become a “topical” public relations act amid tensions with U.S., EU.

Well, yes. It's called "symbolic" for a reason. More importantly, it is a symbol of what happens when one can "create" money de novo without the presence of the world's increasingly defunct reserve currency, either secured by gas or by future cash flows, i.e., unsecured.

Is the US or the World Coming to an End?
http://www.paulcraigroberts.org/2014/04 ... g-roberts/
"2014 is shaping up as a year of reckoning for the United States.
Two pressures are building on the US dollar. One pressure comes from the Federal Reserve’s declining ability to rig the price of gold as Western gold supplies shrivel and market knowledge of the Fed’s illegal price rigging spreads. The evidence of massive amounts of naked shorts being dumped into the paper gold futures market at times of day when trading is thin is unequivocal. It has become obvious that the price of gold is being rigged in the futures market in order to protect the dollar’s value from QE.
The other pressure arises from the Obama regime’s foolish threats of sanctions on Russia. Other countries are no longer willing to tolerate Washington’s abuse of the world dollar standard. Washington uses the dollar-based international payments system to inflict damage on the economies of countries that resist Washington’s political hegemony."
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Re: Economy

Postby tupacperu » Tue Apr 15, 2014 11:27 am

Good News : The Peruvian economy grew 5.72% in February and exceeded market expectations, reported INEI
Tuesday, April 15, 2014
http://gestion.pe/economia/economia-per ... ei-2094641

Domestic Demand has dropped off the map.
But positive results for a volatile mining sector. Let's not call it a rebound yet :)

Can't wait for the March figures
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Re: Economy

Postby tupacperu » Wed Apr 16, 2014 9:35 am

(BCR ) said the economy is not as armored as previously thought and has been affected by the situation overseas, on all of China and the United States.

http://gestion.pe/economia/economia-sig ... xe-2094696

The economy continues to slow and 2014 will grow only 5.3 % said Maximixe
Wednesday, April 16, 2014

ECONOMÍA06 : 48
For the president of the consulting firm , Jorge Chavez , the result February where GDP grew 5.72 % will help the year-end result , the statistical measurement uncertainty will be a source of new base year.


While the result of GDP growth of 5.72 % in February was good for Maximixe president , Jorge Chavez , Peru's economy continues to slow and grow only 5.3 % in 2014 .

" The figures show that the economy is in a slowdown but with a result for February a little better than the market expected. That 's good because I could not slow down as much as was expecting, but definitely will not grow by 6 % , but around 5.2% and 5.3 % , "he said .

According to Chavez is difficult to estimate at what point could be a recovery in production in Peru because the new base year is not yet enough historical data to compare. Therefore considered that for a while will be the source of statistical uncertainty.

We are vulnerable
As for the reasons why the economy will grow only 5.3 % in 2014, also president of the Central Reserve Bank (BCR ) said the economy is not as armored as previously thought and has been affected by the situation overseas, on all of China and the United States.

So while China has affected the prices of raw materials , the so-called " tapering" of the United States directly affects small businesses , because in Peru deteriorating portfolios of mostly microfinance institutions that are seen they extend credit .

This would result in employment conditions are also deteriorating, because small business is the one that creates jobs .

" We thought we were more armored economy, but we are being affected by what is happening outside and while monetary policy is reacting , in my opinion I would have reacted faster. The reference rate is still moving very slow , "said a Gestion.pe .
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Re: Economy

Postby tupacperu » Sat May 03, 2014 7:10 am

Peru's Trade Balance Deteriorates

By Elena Resk in West Chester
May 1, 2014
After reporting the first annual deficit in 12 years in 2013, Peru’s trade balance deteriorated further at the beginning of this year amid declining metal prices. The trade balance accumulated a deficit of US$677 million in the 12 months to February, down from a surplus of US$3.2 billion in the same period a year earlier.
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Re: Economy

Postby tupacperu » Thu May 08, 2014 9:21 am

HSBC profits fall 20% in first quarter
Wednesday, May 7, 2014

Revenues for the largest bank in Europe experienced a decline concentrated in its investment operations and subsidiaries in Latin America, especially in Brazil.
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Re: Economy

Postby tupacperu » Thu May 08, 2014 9:24 am

Waiting for CrediCorp results announcement to get a pulse on the economy and credit.
May 8th....

Credicorp Ltd. : Credicorp's 1Q14 "quiet period"
By GlobeNewswire, April 08, 2014, 04:46:00 PM EDT
Vote up AAA



Lima, PERU, April 08th, 2014 -- Credicorp (NYSE:BAP) announces that in accordance with its corporate disclosure policies, and to prevent any leaks of financial results and ensure fairness, the Company will start the quiet period for 1Q14's earnings release on Wednesday April 16th. This period will end on the date of the release Thursday May 08th. During the quiet period, the Company will not disclose any financial information, comment on financial results, or respond to related questions.

About Credicorp



Read more: http://www.nasdaq.com/press-release/cre ... z318NAYhnX
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Re: Economy

Postby Retired in Lima » Fri May 09, 2014 12:00 pm

tupacperu wrote:Waiting for CrediCorp results announcement to get a pulse on the economy and credit.
May 8th....


Must of been some "Great New's" as the stock spiked this morning!
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Re: Economy

Postby tupacperu » Sun May 11, 2014 9:44 am

Retired in Lima wrote:
tupacperu wrote:Waiting for CrediCorp results announcement to get a pulse on the economy and credit.
May 8th....


Must of been some "Great New's" as the stock spiked this morning!


Yeah it was good news for NET PROFIT.. : But a closer look was due to "RESTATED FINANCIAL STATEMENTS for the period 2009 - 2013 on a quarterly and annual basis, considering the new functional currency (nuevos soles). This conversion was great for the bottom line..

Lima, PERU, April 09th, 2014 -- Credicorp (NYSE: BAP) has released the Restated Financial Statements (balance sheet and income statement) for the period 2009 - 2013 on a quarterly and annual basis, considering the new functional currency (nuevos soles). The methodology used for this restatement is according to International Financial Reporting Standards (IFRS) and specifically according to IAS #21 "The Effects of Changes in Foreign Exchange Rates". The methodology applied is as follows: Income Statement: - Income and expenses of every month expressed in US Dollars are converted to Nuevos Soles using the month-end...more ».

Historical $1.00 US for Peruvian Sol...
2009 2.996736
2010 2.814931
2011 2.755186
2012 2.634748
2013 2.701136


Also The Central Bank (BCR) lowered the reserves requirement on financial institutions to allow more money to be loaned. Net Profit are up for these reasons....


As far as GDP - not the true numbers: Peruvian Minister of the economy has restated base year for GDP: New base for GDP calculations in Peru implies a greater share to sectors such as mining and exports and less to others such as commerce; this change implies an upward bias to our GDP growth estimates for 2014 and 2015.

Next Quarter - June 30th will tell us the true effect..
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Re: Economy

Postby tupacperu » Thu May 15, 2014 11:46 am

Even as the Base year for calculating real GDP was readjusted last month to Peru's advantage. The economy continues in deceleration. Last month it took an upward blip...... but after the adjustment they are below 5%. I wonder what it would have been without the recalculation.

Peruvian economy grew 4.9% in March, less than expected by the market, reported INEI
Thursday, May 15, 2014


http://gestion.pe/economia/economia-per ... ei-2097336

Traders had an estimated 5.65% , according to a Reuters poll.
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Re: Economy

Postby tupacperu » Mon May 19, 2014 10:59 am

Seasonally adjusted GDP in March confirmed that there slowdown in the Peruvian economy
Monday, May 19, 2014


http://gestion.pe/economia/inei-pbi-des ... na-2097647

ECONOMÍA08 : 34
The Peruvian economy faces a fall if left aside in measurement seasonal components as INEI . Dato manufacturing would be a cyclical effect.


Luis Fernando Alegría
luis.alegria @ diariogestion.com.pe

Economic activity shows a drop in March, seasonally adjusted considering the result. The decline would be 0.4 %, according to INEI .

Seasonally adjusted means that the data was ' cleaned ' calendar effects , such as Easter, Independence Day, etc. . With this setting , you can compare in March versus February 2014 .

In that sense , the data adjusted for seasonal themes evidence that production in the third month of the year was lower than that recorded during February.

In detail, the National Production Technical Report shows significant declines in seasonally adjusted indices from various sectors. For example, the key mining and hydrocarbons sector suffered a sharp decline in March.

Meanwhile, manufacturing ( 16.52 % explaining GDP ) showed no growth in March - or so far this year, implying that the relative ' strength ' is explained by purely seasonal factors. Remember that the sector grew 5.67 % compared to the same month of 2013, but it would be a fiction .

Also, the construction sector fell compared to that seen in February.

With these indicators , it is natural that the GDP as a whole has fallen 0.4 %, which shows that the activity indeed is in a downturn.

To this must be added that growth in April will be weak. BBVA Research forecasts that will be below 4% , affected by the notorious factor Easter. However, it is important to note that it would start the second quarter with the left foot , increasing the likelihood of continued deceleration.
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Re: Economy

Postby tupacperu » Mon May 19, 2014 8:41 pm

Peru's gold Mining in steep decline
2014 Financial Meltdown
http://incakolanews.blogspot.com/2014/0 ... +kola+news)
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Re: Economy

Postby tupacperu » Tue May 20, 2014 1:46 pm

Portfolio of mining projects in Peru is "stagnant" since 2012, says Luis Carranza
Tuesday, May 20, 2014

ECONOMÍA12: 28
Gold Symposium XI For the former economy minister, mining is queued in labor productivity is below other sectors such as agriculture, services, manufacturing and construction.


http://gestion.pe/economia/cartera-proy ... za-2097797
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Re: Economy

Postby tupacperu » Fri May 30, 2014 10:12 am

reuters).-debt abroad of Peruvian companies would suffer a great setback this year due to the lower expectations of growth for the Peruvian economy and somewhat higher yields in the United States.

http://gestion.pe/mercados/empresas-per ... no-2098892

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