The Peruvian economy would have grown similarly in August as in July, when it expanded 3.6%, in line with the
This was stated by BCR Monetary Policy Manager Carlos Montoro, who noted that the projected August performance is consistent with the bank's annual forecast of 3.2% growth for this year.
Non-primary GDP momentum
Economic activity in August would have shown momentum similar to July's, driven mainly by non-primary GDP, the economist said.
Montoro stated that El Niño (FEN) has begun to affect various economic sectors.
He added that, although non-primary sectors are growing at a rate of 5%, momentum has slowed in agriculture, livestock, fishing, and textile activities.
The BCR's Monetary Policy Manager said the impact will depend on the measures taken.
"However, other sectors of the Peruvian economy are showing momentum," he noted.
Significant rebound in 2028
The analyst forecast that the climate impact will persist through the first quarter of 2027. Thus, a recovery is expected in 2028.
"We could see a significant rebound from late 2027 or early 2028," he added.
Global economic growth
Montoro said the outlook for global economic activity remains positive.
In this context, the terms of trade favor Peru’s economy, with 1.8% growth so far in 2026 and cumulative expansion of more than 10% over three years.
Inflation outlook
Finally, he projected that inflation would return to the BCR's target range soon, although he warned of risks, particularly geopolitical ones and those associated with El Niño phenomenon.
Publicado: 10/10/2026