Peru: Economy contracted 32.75% in May 2020

14:49 | Lima, Jul. 15.

The national production decreased 32.75% last May compared to the same month in 2019, although it registered a lower fall than in April (-40.49%), according to data released on Wednesday by Peru's National Institute of Statistics and Informatics (INEI).

This would reflect a breaking point and mean that the worst may have already passed.

During the January-May period, the national production decreased by 17.29% and in the annualized period (June 2019-May 2020) it did so by 5.54%.

In the fifth month of this year, the main components of domestic demand —such as household consumption— experienced a decrease reflected in the reduction in retail sales (-49.87%) and lower investment in construction (-66.43 %).

Likewise, external demand was reduced, given the decrease in exports of traditional and non-traditional products.


Published: 7/15/2020