Peru | Output contraction keeps moderating in YoY terms

Summary

In June, GDP went down by 18.1% YoY, reflecting the isolation measures implemented since mid-March in order to contain the spread of the coronavirus.

Key points

• Key points:
• This contraction was widespread by productive sectors, with the exception of some services and the fishing industry.
• Although the YoY contraction in activity was pronounced and widespread by sector, it was also more limited than in previous months, reflecting the gradual relaxation of isolation measures.
• Available indicators for the third quarter keep pointing to output normalisation.
• Taking into account what available indicators suggest, and if there are no significant spikes in coronavirus infections that lead to new harsh, prolonged, and widespread isolation measures, the worst seems to be behind us.

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