LIMA Dec 14 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
While the economy surged from a year ago, it shrank 1.2
percent in October from September, in part because of three
holidays that kept people away from their jobs, the data from
the national statistics institute INEI showed. Last month, the
INEI said the economy grew 1.1 percent in September from August.
Expansion in October from the same month a year ago 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
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.
The INEI also said the average jobless rate in metropolitan
Lima for the three months through November was 5.9 percent,
lower than 7 percent in the same period a year ago.