LatAm Daily | Peruvian GDP growth surprises to the downside

Summary

Growth reached 1.2% YoY in May dragged down by non-primary activities. We expect GDP to grow around 1.5% YoY in June, below its potential growth rate. In Colombia, Industrial output fell 3.9% YoY in May mainly due to oil refining. Retail sales missed our estimate growing 2.7% YoY following a slight decline in April. These figures reinforce our downward bias for 2015

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