Andina

Peru: Economic activity shows a recovery trend

Photo: MEM

Photo: MEM

12:30 | Lima, Aug. 18.

Peruvian Economy and Finance Minister Maria Antonieta Alva on Tuesday highlighted that economic activity indicators have been showing a positive recovery trend since last May.

The high-ranking official specified that one of these indicators is electricity production, which is highly correlated with GDP and continues showing recovery signs.

In this sense, the Cabinet member reported that electricity production had hit the bottom last April (-29.5%). However, the recovery started in May; that month, it fell 25.1%, followed by -12.4% (June), -5.7% (July), and -4.0% (August).

Furthermore, cement consumption declined by 99.4% in April. Yet it fell 70.1% in May, followed by -26.3% (June), and only -5.7% (July).

Meanwhile, the total sale of cars contracted 100% in April, -97.5% (May), -57.9% (June) and -17.0% (July).

She added that sales in non-primary sectors show a recovery in the months of July and August, mainly in the sectors of commerce, services and manufacturing.

(END) RGP/MVB

Published: 8/18/2020