UPDATE 2-Peru's economic growth slows in March

(Adds background, jobless data)

By Maria Luisa Palomino

LIMA, May 15 (Reuters) - Peru's economy grew at its slowest in nearly a year in March, expanding 5.59 percent compared with a year earlier as contraction in fishing and agriculture offset strong construction activity.

The median forecast of analysts polled by Reuters was for growth of 6.35 percent, with forecasts ranging from 5.3 percent to 7.5 percent.

The March figure was the lowest growth rate since April last year, when the economy expanded 4.5 percent.

The government's National Statistics Institute (INEI), which released the data, said the figure appeared weak only because the corresponding figure a year ago -- 12.2 percent -- was so strong.

"It's a statistical question, but the economy grew significantly," INEI head Renan Quispe told a news conference.

The institute pointed out that March was the 69th consecutive month of economic growth in Peru.

It said the construction sector expanded 10.56 percent compared with March 2006 while the mining and minerals sector grew 2.33 percent after seven consecutive months of contraction.