Peru’s GDP Grows 6.15 Percent in January – Government

Peru’s economy grew 6.15 percent in January, recovering from a sluggish expansion in the previous month, according to the government.

Growth in January was led by the construction sector, which expanded 18.4 percent. Other sectors that posted strong growth were financial and insurance sectors, which rose 7.8 percent, retail, which gained 5.47 percent and manufacturing, up 3.04 percent.

The only sector to contract was the important mining and hydrocarbon sectors, which declined 4.38 percent compared to the same month in 2012.

Nevertheless, growth was still stronger in January than the 4.3 percent registered in December.

Economic activity expanded slightly weaker than forecasted. Peru’s Economics and Finance Ministry had forecast growth of 7 percent, while the central bank said GDP would likely gain 6 percent to 7 percent.

Finance Minister Luis Miguel Castilla recently said that Peru’s GDP could grow more than 6.3 percent this year. Peru’s GDP expanded 6.3 percent in 2012.

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