Peru's economy shrank in January after nearly two years of growth
Reuters
Published Mar 15, 2023 01:58PM ET
(Reuters) - Peru's gross domestic product contracted 1.12% in January compared with the same month a year before, official data showed on Wednesday, marking the first contraction in 22 months as anti-government protests played out across the country.
The economic activity of various sectors in the world's no. 2 copper producer shrank in January, including mining, construction, retail, transportation and telecommunications.
Manufacturing, restaurants and the power sector, however, experienced growth during the first month of the year.
Economic activity during January was hit by "social conflicts, which paralyzed labor, blocked roads, (and) saw markets shut" in parts of the country, the national statistics agency said in a statement.
Exports also dropped, the statement added, as well as investment in construction.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.