Peru | Activity was a positive surprise in November

Summary

GDP fell 2.8% year-on-year in November, less than anticipated by the market consensus. Among the sectors that showed positive figures are Construction, Financial Services and Insurance and Telecommunications.

Key points

• Key points:
• Construction activity has been registering positive growth rates in a sustained manner since September, supported greatly by the recovery of public investment.
• The indicators available for December suggest that the trend of economic activity to normalize in that month supported by the higher landings of anchovy and the strong and continuous advance of the variables related to construction.
• Employment also continues to normalize and, with it, the wage bill, which supports spending by families. However, despite the improvement observed since the middle of last year, the number of jobs that have been lost is still significant.

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