Peru's economy grows 1.75% in June, slowing from May

Peru's economy expanded by 1.75% in June compared to the same month in the previous year, marking a deceleration from the 1.8% growth observed in May. Data from Peru's national statistics agency, INEI, indicated that the fishing sector was particularly affected by the El Niño weather pattern, which caused warmer Pacific waters to push fish into deeper areas.

Separately, analysis from AMI suggests that Peru is currently overperforming economic growth expectations for 2026. Forecasts from organizations like the OECD, BBVA, and EY project growth rates between 2.9% and 3.2%. This positive outlook is attributed to rising metal prices, a recovering construction sector, increased labor income, anticipated lower interest rates, and the potential for post-election political alignment to unlock delayed investments. Mining, construction inputs, equipment, logistics, banking, and retail sectors are expected to be the primary beneficiaries, contingent on the next government reducing permitting delays and restoring confidence in public-private project execution.