Peru | Activity normalization continues and surprised positively in October

Summary

GDP fell 3.8% year-on-year in October. The available indicators show that the recovery of economic activity would have been maintained in the last part of the year

Key points

• Key points:
• Due to productive activities, the decline was once again generalized, with few exceptions such as some services Financial Services and Insurance, Fishing, Construction and Telecommunications
• The high-frequency expenditure and activity indicators available show that the recovery in economic activity would have been maintained in the last part of the year
• It is important to note that the indicators related to the construction sector suggest that the improvement would have been sustained in the last part of the year
• Employment, one of the supports for the demand of families, is also recovering. Even though lost jobs are still important
• In general, the recovery in economic activity has come better than anticipated, reflecting an improvement in supply due to the restart of various productive activities. However, going forward the dynamics of the recovery will moderate because it will be more linked to demand factors

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