The Gross Domestic Product (GDP) of Peru grew 3.3% in the second quarter of this year compared to the same period of the previous year, the National Institute of Statistics and Informatics (INEI) reported on Monday.
The growth was “driven by the increase in domestic demand for the favorable behavior of household consumptiondriven by the job recovery and income, and increase in investment“, said the institution.
The result of the second quarter is lower than that registered in the first quarter of the year, which was 3.8 percent.
“Despite the adverse international context, due to the general increase in prices, the Russia-Ukraine conflict and others, the peruvian economy registered higher growth than that obtained in a similar pre-pandemic period of 2019″, highlighted the INEI.
In the second quarter, the category of Accommodation and Restaurants increased by 38.9%, followed by Transportation, which expanded by 13.5 percent.
In turn, the Agriculture activity grew 4.7%, Construction 3.7%, Manufacturing 3.5%, Electricity 2.6% and Commerce 2.6 percent.
In contrast, the Fishing activity fell 13.0%, Financial Services and Pensions decreased 7.2% and extraction of Oil, Gas, Minerals and Related Services decreased 1.3 percent.
Last week, the government institution reported that the GDP it grew 3.5% in the first half of the year, compared to 20.5% in 2021, when there was a rebound after the pandemic.
According to recent figures from the Ministry of Economy and Finance, as of July the forecast for annual economic growth it is 3.6% despite global challenges such as inflation or the drop in the price of copper.
The optimism of the Ministry of Economy and Finance contrasts with the estimates of the central bankwhich in June reduced the GDP growth expectation to 3.1%, compared to the 3.4% forecast in March.
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