UPDATE 2-Peru's central bank says slowdown touched bottom in Nov

viernes 16 de enero de 2015 16:13 GYT
 

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By Teresa Cespedes

LIMA Jan 16 (Reuters) - Peru's central bank said on Friday the country's sharp economic slowdown over the past year had likely bottomed out in November with the weakest monthly growth in more than five years.

The bank's chief economist, Adrian Armas, said growth in December would mark the start of a rebound and was "certainly" better than November's 0.31 percent year-on-year expansion, the weakest since June 2009.

"The reading for November was a negative surprise for everyone," Armas said on a conference call with reporters. "But everything points to that being the floor."

December growth data is scheduled for release mid-February. Preliminary data shows higher demand for cement and imported goods.

The central bank and government officials had previously described June's 0.34 percent year-on-year expansion as the lowest point for the global minerals exporter's economy and said a recovery would take root in the second half of 2014.

But weak mining output, a lull in manufacturing, plummeting fish catches and anemic public and private investment have helped up-end those forecasts.

The economy last year likely grew by less than half the 5.8 percent rate posted in 2013.   Continuación...