The Peruvian economy It strengthened its recovery rate in February, by registering a growth of 2.68% compared to the same month of the previous year, according to the National Institute of Statistics and Informatics (INEI). This figure is located within the consensus of the analysts and the forecast of the Central Reserve Bank (BCR). With this, the Gross Domestic Product (GDP) accumulates a growth of 3.38% in the first two months of the year.
GDP growth reflects the speed at which the economy expands or contracts, and a sustained positive result suggests a dynamic developing economy.
Adrián Armas, central manager of Economic Studies of the BCR, had indicated that the February GDP would have registered a growth of around 3%, less than the expected growth for the quarter of 4%, due to the statistical effect of having a working day less compared to February 2024, which was leap.
Thus, in the second month of the year, the fishing sector led the economic progress with a growth of 24.64%, mainly driven by the highest anchovy extraction, which increased by 355%. He also highlighted the performance of the agricultural sector, which grew 4.35%, due to the increase in agricultural activity (5.49%) and livestock (2.77%).
The INEI explained that agricultural dynamism was explained by higher levels of planted area and favorable climatic conditions, which allowed significant increases in crops such as grapes (97.05%), mango (56.67%), potato (7.75%), paprika (39.55%), tomato (33.54%), tangerine (18.07%), palm oil (13.29%), pumpkin (24.24%) and alfalfa (2.72%).
On the other hand, the production of the mining and hydrocarbons sector retreated 1.36%, due to a 1.23% drop in metal mining and 2.24% in hydrocarbons. This descent limited the performance of the manufacturing sector, which grew 1.94%.
As for the sectors most linked to employment, construction advanced 5.91%, driven by the increase in domestic cement consumption (4.64%) and the greatest physical advance of public works, reflecting a greater execution of public investment in the three levels of government. Commerce also recorded an expansion of 3.09%.
Finally, the financial and insurance sector showed an improvement when reverting its negative trend, with a growth of 0.39% in February.
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