Economic Outlook
In the third quarter of 2024, the economy showed a more pronounced recovery. During the quarter, a series of indicators linked to local demand recorded a better performance than in the first half.
In the third quarter of 2024, the economy showed a more pronounced recovery. During the quarter, a series of indicators linked to local demand recorded a better performance than in the first half.
In August, the Consumer Confidence Index for Metropolitan Lima, by IPSOS and APOYO Consultoría, stood at 43 points. Although consumer confidence remains below the optimistic level, it has registered a modest increase since the fall in May.
During the 2Q2024, economic growth was driven by the rebound of primary sectors, such as traditional agriculture and fishing, and by higher public spending, supported by an estimated increase of 11% in public wages and 16% in public investment, adjusting for inflation.
During the month of August, attention was focused on the dynamics within Congress. In view of the election of the Board of Directors and the recomposition of the ordinary commissions, numerous movements were recorded in the benches.
Although the implicit alliance between the Executive and the Legislative remains in force, in recent months we have seen a progressive weakening of the Executive.
During the second quarter, GDP would have grown at a higher rate than during the first quarter, mainly due to the recovery of the primary sectors.
In the last month, the political panorama has been marked by the beginning of the electoral race. The electoral schedule requires possible candidates who want to participate in the next electoral process to be affiliated with a political organization.
During the second quarter, GDP would have grown at a higher rate than during the first quarter, mainly due to the recovery of the primary sectors.
In the month of May, the Attorney General, Juan Carlos Villena, filed a constitutional complaint against President Dina Boluarte, for the alleged crime of improper passive bribery to the detriment of the State.
Those that were most affected by the protests and rains last summer, such as fishing, tourism, mining and public investment, have registered a clear rebound in their activity levels.
