Peru's economy is projected to grow between 3.2% and 3.8% in the last quarter of this year, driven by factors such as the rebound in agro-export employment, the second fishing season, and a favorable economic cycle following the 2023 contraction, according to the Economic Studies Department at Banco de Credito del Peru (BCP).
The BCP forecast that December will be the most dynamic month of the previously-mentioned quarter.
The projection also considers factors that could affect economic activity during the last quarter, such as the depletion of the temporary boost in consumption from the seventh withdrawal of AFP (Pension Fund Administrators) funds, multiple holidays, limited social protests, and drought in Peru's northern Piura region (5% of national GDP).
According to official data, by mid-November, electricity demand had grown 3.7% year-on-year.
In turn, the second anchoveta fishing season had reached 21% of its quota, and the volume of chicken commercialization at wholesale markets in Lima Metropolitan Area had increased by 9.5% year-on-year.
(END) NDP/SDD/MBC/MVB