Economy slowed down in November: which sectors fell?

The peruvian economy grew only 1.53% in November, according to figures from the National Institute of Statistics and Informatics (INEI). This is the second slowest advance so far this year, after what was recorded in March (1.43%).

The head of the MEF reported that they are managing credit lines to pay the company’s suppliers and that this will be released in the coming weeks.

The INEI revealed that, despite this slowdown, in 11 months an increase of 3.39% was observed, while in one year the increase was 3.55%. It should be noted that the Central Reserve Bank (BCR) estimated that at the end of 2025 the advance would have been 3.3%.

BEHAVIOR IN NOVEMBER

The institution reported that November’s behavior was supported by the outstanding performance of sectors such as construction, which grew 9.83%, public administration with 4.39%, accommodation and restaurants with 4.38%, and transportation, storage, mail and courier with 3.25%.

However, in the penultimate month of the year, six items recorded negative results. Fishing, for example, was the one with the greatest decline with a decline of 17.85% due to the lower extraction of resources of maritime origin intended for indirect human consumption.

Mining and hydrocarbons, meanwhile, decreased by 6.47%. Here a decline was observed in the metal mining subsector (-6.16%), determined mainly by the lower production of copper (-12.14%), molybdenum (-7.3%) and tin (-19.06%). Regarding hydrocarbon activity, it fell by 8.6%.

For its part, manufacturing contracted by 2.12%, because the branches of processing and preserving fish, crustaceans and mollusks decreased. Likewise, less activity was recorded in the consumer goods industry (-6.36%).

The agricultural sector, on the other hand, registered a negative result for the second time in the year. The 0.96% drop in November was a consequence of the decrease in agricultural products such as paprika, mango, garlic, corn, mandarin, comete, carrot, among others.

Telecommunications and other information services, as well as the financial and insurance sector, also showed declines almost at the end of 2025. The first contracted by 0.64% due to the negative result of the other information services subsector (-3.01%); while the second fell 0.27% due to lower loans and deposits from financial companies.

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