As for the future, check out May 2008; both Peru and Chile had a “soft” month so this helped no end with the year-over-year calculations this time round. But June 2008 in Peru came in at +13.1% growth. Oh lordy, this FinMin liar Carranza dude still thinks Peru grows at +3.5% in 2009? Somebody buy him a Casio and sign him on for the remedial mathematics course quick, cos Peru’s June ’09 numbers are going to ruin his cunning plans once and for all…if they get -2% it’ll be a good result what with double the amount of strikes than June 2008, swine flu, a dumping of the tourist industry, the drying-up of imports, rising unemployment..uff, not good. Not good at all.
Chart of the day is…….
…the monthly GDP chart for Chile and Peru, YoY data:
We’ve followed the correlation between the two countries’ GDPs for the last few months, but this month shows a distinct advantage towards Chile. Even though YoY data has Chile’s May at +0.1% and Peru’s at +0.46%, the gap has now closed from as much as +8% in Peru’s advantage to all-but nothing. Why should this be so? Well, let’s start with the fact that only one country mentioned is serious. Then maybe add that only one of the countries mentioned bothered to put in any contingency plans for the crisis-to-come in 2008 while the other was waltzing around saying “we’re armour-plated…we’re gonna grow 6% in 2009“. Dumbasses.