Peru’s economic activity rises 2.3% y/y in July

Peru’s economic activity expanded by 2.3% year-on-year in July, Andina news agency reported citing figures released by the latest FocusEconomics Consensus Forecast report. This result shows 0.3% improvement compared to June, but is still far from the 7.8% hike scored in April.

The July’s growth was mainly driven by the acceleration of country’s exports and strong domestic demand. “The acceleration in exports growth benefited from stronger sales of traditional products, including sugar, cotton, iron, zinc, and gold”, the report says.

Almost all sectors saw their production increase during the month of reference, as trade, telecommunications and agriculture expanded the most. On the other hand, mining and hydrocarbons and fishing sectors contracted.

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