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Peru Economic Activity October 2023

Peru: Decline in economic activity softens in October

Economic activity declined 0.8% in year-on-year terms in October, which was above September’s 1.3% decrease. Looking at the details of the release, commerce sector grew at a slower pace in October, while the agricultural sector contracted at a milder, albeit still pronounced, rate. Lastly, activity in the manufacturing sector fell at a softer rate, while mining and hydrocarbons output moderated.

On a monthly basis, economic activity increased 0.1% in October, which was better than September’s flat reading. Meanwhile, the trend pointed down, with the annual average variation of economic activity coming in at a two-year low of minus 0.3%, down from September’s flat reading.

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