Peru’s economy slowed in November and grew less than expected in the month before it was hit by massive unrest triggered by the ouster of former President Pedro Castillo.
(Bloomberg) — Peru’s economy slowed in November and grew less than expected in the month before it was hit by massive unrest triggered by the ouster of former President Pedro Castillo.
The economy grew 1.68% in November, the national statistics agency INEI said on Sunday, compared with an estimate of 2.3% and a 2.0% rate posted in October.
Protests since Castillo’s ouster on Dec. 7, after he tried to dissolve Congress, have disrupted vast swaths of Peru’s copper-rich southern Andes region. Peru is expected to grow 2.7% in full-year 2022, according to economists surveyed by Bloomberg.
Dina Boluarte, who took over as president, registered a 71% disapproval rating in a poll from the Instituto de Estudios Peruanos. Boluarte had a 28% approval rating in the capital of Lima compared to only 9% approval in rural areas, where the country has seen deadly protests. The telephone poll surveyed over 1,200 people with a margin of error of 2.8 percentage points.
Unemployment in the capital of Lima came in at 7.1% for the last quarter of the 2022, INEI also said, compared to a rate of 7.6% in November.
(Adds details on prior month growth in paragraphs 1-2, poll data in paragraph 4)
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