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The economy of Peru grew by 4.52% in June, which was less than expected

The economy of Peru grew by 4.52% in June, which was less than expected

The INEI statistics agency reported that the economy of Peru grew by 4.52% in July, which was less than expected despite growth across most sectors.

Analysts polled by.

Peru's mining and energy sectors, which are the third largest copper producers in the world, have grown by 1.01% over the past year. The fishing sector has also seen growth. Washington imposed a 50 percent levy on copper imports, a major Peruvian export. The measure was a watered down version of the original tariff.

Construction and commerce both grew by 9.57%, and 8.76% respectively.

Andean nations are recovering from the recession that began with the term of President Dina Bouluarte. Protests against the government impacted the mining industry and foreign investment in the country.

Last month, Central Bank Chief Economist Adrian Armas stated that the economy is expected to grow by more than 4% for the month of June. However, he warned that the July number may have been affected by protests from informal miners who blocked a copper corridor.

According to estimates by the central bank, GDP growth is expected to be around 3.1% in 2019. By 2026, it should drop to 2.9%. (Reporting and writing by Marco Aquino, Benjamin Mejias Valencia; Editing by Natalia Siniawski, Rod Nickel)

(source: Reuters)