Peru economy beats forecasts with strong 3.3 per cent growth
LIMA, Peru (AFP) — Peru’s economy beat international forecasts and defied the slump in commodities that has dragged down regional neighbours to post annual growth of 3.26 per cent in 2015, officials said Monday.
The figure exceeded the 2.39 per cent growth recorded in 2014, the National Statistics Institute said.
The measure of household consumption grew by 3.4 per cent and business consumption by 5.8 per cent.
A surge of productivity in Peruvian mineral mines drove monthly growth to 6.39 per cent in December. That helped the country overcome a fall in hydrocarbon revenues.
It bucked the trend of some of Peru’s commodity-dependent neighbours such as Chile, whose economy grew a lower-than-expected 1.5 per cent in December.
The International Monetary Fund had forecast lower economic growth of 2.8 per cent for Peru in 2015.
