Aug 1 (Reuters) - Peru's finance minister said on Tuesday that preliminary data showed the country's economy shrank in June, marking two consecutive quarters of contraction, which is a common definition for a recession.
Finance Minister Alex Contreras told reporters he expects economic growth to return in July after preliminary data showed that the economy shrank by about 1% in June.
That followed official data showing that the South American country's economy contracted by 0.43% in the first quarter.
Despite the data, Contreras asserted that the economy is not in recession while heaping blame on "obsessed" analysts who root against the government for any suggestion to the contrary.
"The economy isn't in a recession and it hasn't entered into a recession," said Contreras, adding that economic recessions typically involve "prolonged periods" of downturn, though he did not provide a specific definition.
Persons:
Alex Contreras, Contreras, hasn't, jailing, Pedro Castillo, Dina Boluarte, David Alire Garcia, Alexander Villegas, Sandra Maler
Organizations:
Thomson
Locations:
Nino