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Healthcare

UPDATE 2-Peru economy posts fourth consecutive month of growth in June

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LIMA, Aug 16 (Reuters) - Peru’s economy grew 23.45% in June versus the same period the previous year, the government said on Monday, posting its fourth consecutive month of growth as construction, manufacturing and trade surged back from low points last year.

In June of last year, the economy of the world’s No. 2 copper producer fell 18.39% year-on-year after health authorities ratcheted up restrictions to slow the spread of the recently arrived coronavirus.

The National Institute of Statistics and Informatics (INEI) said the economy jumped 20.94% in the first half of the year, and that in the 12 months to June it had grown 6.35%.

Peru has over the past three decades been one of Latin America’s most stable economies, although that perception has weakened in the last few years due to political turmoil.

Recently elected socialist President Pedro Castillo, the country’s fifth president in five years, has spooked markets but promised responsible management of the economy.

“Economic confidence has been depressed since April and it should take a toll on private investment in the coming months,” wrote Debora Reyna, economist at Oxford Economics, in a note to clients. (Reporting by Marco Aquino; Additional reporting by Rodrigo Campos; Writing by Dave Sherwood; Editing by Chizu Nomiyama and Aurora Ellis)

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