Peru | Strong impact of confinement on March economic activity

Summary

GDP contracted by 16.3% year-on-year in March. In the monthly records we have access to (since the beginning of 1994) we do not see a bump like this.

Key points

• Key points:
• The contraction of activity in March reflects the beginning of the period of partial or total containment and paralysis of different sectors of the economy in the context of the emergency measures adopted by the authorities to contain the local spread of the new coronavirus.
• Looking ahead, it is reasonable to expect that activity will again contract significantly in April, and more sharply than in March.

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