Peru: Economic activity growth rises in June
Latest reading: Economic activity grew 4.5% compared to the same month a year earlier in June, which followed May’s 2.7% increase but was below market expectations. The acceleration from May was due to faster growth in the commerce, manufacturing and mining sectors. In contrast, the agricultural sector weakened.
On a monthly basis, economic activity dropped 0.2% in June, matching May’s fall. Meanwhile, the trend improved, with the annual average growth of economic activity coming in at 3.7% in June, up from May’s 3.3% reading.
Panelist insight: On the reading and outlook, BBVA analysts said:
“The outlook for the second half of the year will be more challenging, due to a higher year-on-year comparison base — partly because of [last year’s] withdrawals from private pension funds — a likely greater impact from global trade tensions, and the proximity of the 2026 general elections, which tend to induce caution in spending decisions. This context is consistent with our projection that the Peruvian economy will grow 3.1% in 2025.”