Peru: Economic activity slumps to near one-decade low in April on transitory disruptions in mining sector
June 18, 2019
Economic activity was stagnant in year-on-year terms in April, down from the 3.2% expansion recorded in March and marking the worst result in nearly 10 years. Therefore, national production in January-April grew a modest 1.7%.
The slowdown was prompted by notable contractions in the important manufacturing, and mining and quarrying sectors, and by another slump in the fishing sector. Continued disruptions at Las Bambas mine led mining production to shrink. On the other hand, the construction, telecommunications, and financial sectors recorded sizable expansions.
Meanwhile, the annual average variation in economic activity came in at 3.0% in April, well down from March’s 3.7%.