Peru’s GDP Rises 5.55 Percent In March

Peru’s economy grew by 5.55 percent in March, which is slower than many economists had expected, state news agency Andina reported.

Growth in March, which is the 31st straight month of economic growth in Peru, was lower than the 7.18 percent in February.

The National Statistics and Information Bureau, or INEI, said Peru’s agriculture sector rose 1.62 percent in March, while fishing fell 15.07 percent.

The mining and hydrocarbon sector grew 6 percent in March, as metallic mining rose 4.13 percent and hydrocarbons was up 15.29 percent.

Manufacturing activity fell 3.15 percent in the month, while electricity and water grew 5.85 percent. Construction increased 14.7 percent and commerce was up 7.22 percent.

Transport and communications rose 9.25 percent, while finance and insurance was up 9.98 percent.  Meanwhile, restaurants and hotels increased 10.02 percent, the government said.

Peru’s economy is expected to grow about 6 percent in 2012.

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