Published on Monday, January 17, 2022

Peru | Social conflicts had an impact on economic activity in november

Economic activity grew 3.5% year-on-year in November. In an analysis comparing GDP figures for 2021 with those for 2019 (pre-health crisis situation), activity expanded 1.3% (October: 1.2%).

Key points

  • Key points:
  • The performance of the commerce and services sectors stood out in October, while construction and non-primary manufacturing maintained high growth rates. However, the non-primary component of GDP registered a steeper decline, particularly in mining and hydrocarbons, affected by social conflicts.
  • In seasonally adjusted terms, the official statistics institute indicates that output fell 0.5% in the month (with respect to the previous month), dropping below pre crisis levels (February 2020).
  • Available indicators for December and January suggest that, in the margin, GDP is losing steam. This is consistent with the persistent weakness of business confidence which registered 41 points in December (in the pessimistic zone).

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