Peru: Economic activity slows further in October
In October, economic activity grew 2.1% year-on-year, decelerating slightly from September’s 2.2% outturn and surprising market expectations on the downside. Therefore, national production in January–October expanded 2.2%, unchanged from the timid increase recorded in the in January–September period.
In terms of industries, October’s expansion was underpinned by healthy growth in the trade, agriculture, accommodation and restaurants and telecommunication sector. Meanwhile, the fishing and manufacturing sectors reported slight drops in the month.
Lastly, the annual average variation in economic activity declined from September’s 2.8% to 2.6% in October, the softest reading since February 2018.