Economics
Peru’s Economy Posts Smaller-Than-Expected Drop in October
- Construction leads rebounds while copper declines ease
- Recovery is faster than expected though demand is still weak
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Peru’s economy contracted less than expected in October as the government ramped up pandemic stimulus spending, spurring construction activity.
Economic activity fell 3.8% in October from a year earlier, the slowest pace of decline in eight months, the national statistics agency said Tuesday in an emailed report. The median estimate of analysts surveyed by Bloomberg was for a 5% drop.