Peru economy beats forecasts with strong 3.3pc growth

Peru's economy beat international forecasts and defied the slump in commodities that has dragged down regional neighbors to post annual growth of 3.26 percent in 2015, officials said yesterday, reports AFP The figure exceeded the 2.39 percent growth recorded in 2014, the National Statistics Institute said. The measure of household consumption grew by 3.4 percent and business consumption by 5.8 percent. A surge of productivity in Peruvian mineral mines drove monthly growth to 6.39 percent in December. That helped the country overcome a fall in hydrocarbon revenues. It bucked the trend of some of Peru's commodity-dependent neighbors such as Chile, whose economy grew a lower-than-expected 1.5 percent in December. The International Monetary Fund had forecast lower economic growth of 2.8 percent for Peru in 2015.

 

Peru economy beats forecasts with strong 3.3pc growth

Perus economy beat international forecasts and defied the slump in commodities that has dragged down regional neighbors to post annual growth of 3.26 percent in 2015, officials said yesterday, reports AFP The figure exceeded the 2.39 percent growth recorded in 2014, the National Statistics Institute said. The measure of household consumption grew by 3.4 percent and business consumption by 5.8 percent. A surge of productivity in Peruvian mineral mines drove monthly growth to 6.39 percent in December. That helped the country overcome a fall in hydrocarbon revenues. It bucked the trend of some of Perus commodity-dependent neighbors such as Chile, whose economy grew a lower-than-expected 1.5 percent in December. The International Monetary Fund had forecast lower economic growth of 2.8 percent for Peru in 2015.