Home South AmericaPeru The Peruvian economy fell 1.12% in January

The Peruvian economy fell 1.12% in January

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The Peruvian economy fell 1.12% in January

The Peruvian fell 1.12% in January, the lowest result since February 2021 (-3.36%), according to data from the National Institute of Statistics and Informatics (INEI). The fall was mainly a consequence of the protests and blockades.

In the first month of the year, the sector that fell the most was Construction, with a decline of 11.7%. Other items that also registered negative results were Telecommunications and Other Information Services (-9.26%), Financial and Insurance (-5.95%), Mining and Hydrocarbons (-3.61%), and Transportation, Storage, Mail and Courier Services (-2.94% ).

The other side of the coin was the category of Fishing that advanced 32.96%, being the one with the highest growth in January. Accommodation and Restaurants (7.99%), Electricity, Gas and Water (3.30%), Public Administration, Defense and others (2.13%), Agriculture (1.89%), Commerce (1.24%), Manufacturing (1.08%), and Services Provided to Companies (0.65%).

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SECTORIAL ANALYSIS

The fall in the Construction sector was reflected in the lower internal consumption of cement that fell 15.12%, according to the INEI. This setback is a consequence of the lower construction activity in private and self-construction works.

Different is the result of the physical progress of works that increased by 24.55% due to the greater investment executed at the national government level.

Another item that fell was Mining and Hydrocarbons. According to the INEI, this drop is mainly the result of the contraction of metal mining activity due to the drop in the production of molybdenum, silver, copper, zinc, gold, tin and copper.

The hydrocarbons subsector, for its part, decreased by 3.5% due to the lower level of exploitation of crude oil and natural gas liquids.

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