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| Lima, Peru |
Peru
Economic Activity Increased 6.47 Percent In May
by Andean Air Mail & PERUVIAN TIMES Thursday, July 19, 2012
by Andean Air Mail & PERUVIAN TIMES Thursday, July 19, 2012
Peru’s economy grew by 6.47 percent
in May, which was higher than economic growth a month earlier, as domestic
demand remained strong and also the demand abroad for non-traditional products.
Peru’s national statistics bureau,
INEI, said the construction sector rose 15.8 percent in May, boosted by
domestic consumption of cement and progress in works in the mining sector,
shopping malls, industrial units and road infrastructure.
The agriculture sector gained 7.75
percent in May, while the restaurant and hotel industry rose 8.8 percent.
Finance and insurance sector
activity rose 6.83 percent, while transportation and communications increased
6.33 percent. Commerce grew by 6.47 percent and electricity and water rose 5.34
percent in May.
The manufacturing sector rose 2.69
percent in May, while mining and hydrocarbon activity gained 1.28 percent.
Fishing activity was the only sector that saw declines, down 7.63 percent in
May, according to the government.
In April, Peru’s economy expanded by
4.37 percent, while a number of economists expect it to grow 6 percent in 2012.
Peter’s Comment
Who said there is a worldwide
recession? I doesn’t seem to have hit Peru yet.
However, their figures appear a
little misleading. I’m sure it was never intending that the quoted monthly
economic growth rate should be multiplied by 12. The percentage increase for
May has already been adjusted to show an annual rate of 7.75%. That’s still
pretty good.
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