Peru: Economic activity contracts at sharper pace in July
Economic activity fell 1.3% compared to the same month a year earlier in July, which was a deterioration from June’s 0.6% decrease. The result was primarily driven by weaker momentum in the commerce sector. In addition, activity in the construction sector contracted at a sharper rate. Lastly, activity in the manufacturing sector declined at a softer rate, while mining and hydrocarbons production moderated.
On a monthly basis, economic activity fell 1.1% in July (June: +1.3% mom). Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at an over two-year low of 0.5% in July, down from June’s 0.7% reading.