Overview
- INEI reported 3.94% year-over-year growth in September, up from 2.98% in August, with activity up 3.33% year to date and 3.70% over the last 12 months.
- Construction rose 10.24%, supported by an 11.15% increase in cement consumption and an 8.55% advance in public works, alongside active private projects.
- Agropecuario output jumped 12.10% as the agricultural subsector grew 18.44%, with standout gains in olives, avocados, wheat, coffee, beans and onions.
- Mining and hydrocarbons expanded 2.09%, led by a 2.28% rise in metallic mining with higher zinc (+25.5%) and copper (+3.2%) output; hydrocarbons edged up 0.78% as crude rose but gas declined.
- Telecommunications fell 0.12%, the only sector in contraction, while BCP lifted its 2026 GDP forecast to 3.2% citing the expected AFP withdrawal’s boost to consumption and firmer mineral prices.