Latest News

Peru's economy grows for sixth straight month in September

Peru's economy expanded on an annual basis for the 6th straight month in September, figures from the national statistics institute revealed on Friday, after almost every sector of the economy logged development.

The economy broadened 3.16% year-on-year in the month, slightly above the estimate of 3.10% growth from experts polled .

Peru's economy has revealed stable healing from an economic crisis it entered into in 2015. The economy is forecast to grow 3.0% in 2025, according to a study of financial experts by the central bank at the end of October.

Economic output in the world's no. 3 copper manufacturer and No. 2 copper exporter was up in nearly every sector, led by transportation, which grew 7.6%. The essential mining and hydrocarbons sector expanded by simply over 1.0%, buoyed by greater output of molybdenum, silver and tin, while copper contracted slightly by 0.4%

The one exception to the across-the-board development was the fishing sector, which contracted by 14.6%, the second straight month of negative growth.

Peru is a leading manufacturer of fishmeal, a fertilizer used anchovies. Anchovy production was up 47.2%, but the sector was pulled down ultimately by smaller catches of fish for direct usage by individuals.

(source: Reuters)