BCR: Peru’s economy continues recovery in July despite COVID-19 pandemic Leave a comment

The Central Reserve Bank (BCR) on Friday affirmed that the Peruvian economy continued to recover in July —as expected— and that it might continue to walk on the path of reactivation in August.
“The leading indicators show that the economic activity may have recovered in July compared to June,” said BCR Economic Studies Central Manager Adrian Armas.
Within this framework, the official explained that electricity production registers a lower decline, considering that it fell 27.4% (March), followed by -30% (April), -25.4% (May) and -6% (July). The projection for August stands at -3.6%.
Likewise, Armas highlighted that cement consumption also shows an important recovery, because it may have only fallen -10.1% in July, after -51% (March), -98.6% (April), -65.1% (May) and -32.7% (June).
Furthermore, the BCR official indicated that non-traditional exports fell 18.5% in July, following major setbacks recorded in March (-20.9%), April (-42.6%), May (-27.6%) and June (-22.4%).
“There is also a recovery in the volume of non-traditional exports, highlighting the farming sector,” he said.
Lastly, Armas emphasized that credit continued to flow in the economy and there is a certain recovery in public investment.
Published: 8/14/2020


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