UPDATE 1-Peru economy grows 6.71 pct in October vs year earlier

Fri Dec 14, 2012 10:33am EST

Related Topics

LIMA Dec 14 (Reuters) - Peru's economy grew 6.71 percent in October from the same month a year ago, official data showed on Friday, a result that was stronger than expected in South America's fastest-growing economy.

Economists polled by Reuters had forecast growth of 6 percent.

Expansion in October was led by a 16.33 percent rise in construction activity, a 5.92 percent gain in retail sales and manufacturing output that rose 4.54 percent.

Those results overshadowed a 3.33 percent decline in mining and petroleum production.

Domestic demand and consumption have powered Peru's economy for much of the past two years, overtaking the country's traditional engine of mineral exports.

Peru's economy grew 6.2 percent in the 12 months through October and is on track to grow about 6.3 percent this year.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.