CS Raises Peru GDP Growth Estimate

Credit Suisse has revised upwards its 2008 GDP growth estimate for Peru to 8.5% from 7.0%. “What we saw is the economy is decelerating but at a lower pace that we had expected,” says the shop’s Andean economist Carola Sandy. Real GDP growth was 10.3% yoy in the first 6 months of the year. Growth in areas other than agriculture, mining and gas remains strong. However, a slowdown is expected because of a tightening in monetary policy, she adds.