Indicators
Peru Economy Shrinks Again, Pointing to Negative Growth in 2023
- Peru’s economy fell 0.63% in August from a year earlier
- The country faces further economic pain from El Nino
Workers harvest a strawberry crop at a farm in Huacho, Peru.
Photographer: Sebastian Castaneda/BloombergThis article is for subscribers only.
Peru’s economy shrank in August for a fourth month in a row, extending its recession as analysts begin to grapple with the possibility the economy may contract in full-year 2023.
Peru’s economy fell 0.63% in August compared to a year earlier, surprising economists who had been expecting a 0.2% contraction. The economy grew 0.8% compared the previous month, according to national statistics institute INEI.