Peru Recession Deepens as Economy Shrinks More Than Forecast
- Economy contracted 1.29% in September from a year earlier
- Govt has acknowledged the economy is going through a recession
Pedestrians walk through the Mesa Redonda shopping center in Lima, Peru.
Photographer: Fabiola Granda/BloombergThis article is for subscribers only.
Peru’s economy contracted more than all forecasts in September, as the once fast-growing nation continues to struggle to revive growth.
The economy shrank 1.29% in the month from a year earlier, worse than all nine forecasts of analysts surveyed by Bloomberg and more than twice as deep a contraction as the -0.6% median estimate. From a month earlier, the economy shrank 0.03%.