[News] Peruvian economy continues to recover and recorded a contraction of 9.82% in August

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The Peruvian economy slowed its fall and registered a reduction of 9.82% last August due to the decreases in the mining, transportation and manufacturing sectors, the National Institute of Statistics and Information (INEI) reported on Thursday.

According to the agency, the negative rate registered in the eighth of the month of the year was lower than that reached in the previous five months due to the launch of the third phase of the economic reactivation since July.

In the January-August period, national production decreased by 15.66% and in the annualized period (September 2019-August 2020) it did so by 9.63%.

In the case of the mining and hydrocarbons sector, this decreased by 11.18% due to the lower activity of the metallic mining subsector (-10.22%) due to the lower production volumes of gold, silver, lead and copper

Manufacturing activity was 12.09% lower in August due to lower production in the consumer goods, intermediate goods, capital goods industry, and lower oil refining.

The transport, storage and messaging sector fell 27.93% due to lower activity by air, rail and road.

The accommodation and restaurants sector was the one that presented one of the greatest decreases with 60.95%, although the negative rate was lower in relation to the previous month. The categories tourist restaurants, coffee restaurants, restaurants, chicken shops, chifas and fast food were the most affected.