Peru economy undershoots expectations in February
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FILE PHOTO: People walk through downtown Lima, Peru January 30, 2025. REUTERS/Angela Ponce/File Photo
LIMA (Reuters) - Peru's economy grew 2.68% in February, data from the nation's INEI statistics agency showed on Tuesday, falling short of estimates despite most sectors logging growth.
The February data landed below the 3.5% estimate of analysts polled by Reuters.
The Andean nation's key mining and energy sector shrank 1.36%, with utilities and telecommunications services also contracting.
Peru is the world's third-largest copper producer.
The farming and the smaller fishing sectors advanced 4.35% and 24.64%, respectively.
Manufacturing industry expanded by 1.94% and transportation was up 5.66%.
The central bank's top economist said last week that the nation's economy would face a moderate hit from newly implemented tariffs from the U.S.
Economist Adrian Armas said the Peruvian economy likely grew around 4% in the first quarter.
(Reporting by Kylie Madry and Marco Aquino, Editing by Franklin Paul)
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