UPDATE 1-Peru's economy grows 6.15 pct in January from last year

Fri Mar 15, 2013 11:30am EDT

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LIMA, March 15 (Reuters) - Peru's economy grew 6.15 percent in January from the same month a year ago, with strong expansion in the construction and retail sectors, official data showed on Friday.

Economists surveyed by Reuters had forecast expansion of 6.6 percent.

Growth in Peru - which posted one of the quickest growth rates in Latin America last year - has been led for the past few years by strong domestic demand that has outpaced relatively weaker exports.

In January, the construction sector grew 18.4 percent on the year, while retail rose 5.47 percent, and manufacturing expanded 3.04 percent.

The mining and oil sector, however, contracted 4.38 percent. Mining historically has led growth and makes up about 60 percent of Peru's export earnings.

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Comments (1)
Considering the # of American expats who live there plus the # of American companies that have moved there this really is of no suprize. Beautiful country, fairly stable covernment, business friendly, low taxes, low cost to living. Check it out.

Mar 15, 2013 12:30pm EDT  --  Report as abuse
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