Peruvian economy grew 2.99% in October this year, underpinned by a strong expansion in construction, thereby marking 99 straight months of growth, National Institute of Statistics and Informatics (INEI) said Friday.
The country's productive activity experienced an accumulated growth of 2.44% between January and October this year and of 2.61% in the last 12 months (Nov 2016-Oct 2017).
The result was driven by the positive growth of external demand, reflected in higher
non-traditional exports (7.0%) of
fishing, chemical, metal mechanic, iron
and steel, as well as non-metallic mineral products.
Likewise, the domestic demand recovery associated with greater imports of non-durable consumer goods (23.1%), retail sales (0.92%), and consumer loans (2.29%) also influenced the result.
According to INEI, the October reading was supported by the favorable performance in most sectors of the economy, mainly in construction, telecommunications, manufacture, as well as transportation, storage, and courier services.
Another sector that contributed to this rise was trade. Together, these sectors explain 60% of October's result.
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Published: 12/15/2017