During the first half of the year, GDP grew at an average rate of approximately 2.5%, driven mainly by the rebound in activity in the primary sectors.
However, the recovery in non-primary sectors linked to domestic demand remains modest, given that families have not yet perceived significant improvements in their financial situations. At APOYO Consultoría, we anticipate that the recovery in the sectors most closely linked to household consumption, especially in non-essential spending categories, will be more pronounced in the second half of the year.
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Partner and principal economist
The Government’s main allies, Fuerza Popular and APP, leveraged the crisis triggered by the murder of 13 mine workers in Pataz to strengthen their influence over ministerial appointments.
So far this year, the economic recovery appears to have consolidated, with growth becoming more broad-based. Domestic demand has shown solid performance.
In the first quarter of the year, economic growth remained solid (3.6%). This was the result of a combination of favorable dynamics for GDP.
