11:25 | Lima, Mar. 15 (ANDINA).
Peru’s gross domestic product rose 5.38 percent year on year in January on the back of strong domestic and foreign demand, totaling 29 consecutive months of uninterrupted growth, the National Institute of Statistics and Informatics (INEI) said Thursday.
INEI said that Peru's economic growth rate between February 2011 and January 2012 was 6.54 percent.
Compared with a year earlier, the livestock and agricultural subsectors expanded 3.62 and 1.01 percent, respectively, in January.
In the same month, the mining and hydrocarbons sector fell 2.16 percent in one of the world's top metals exporters, affected by a contraction in metal and oil production.
Manufacturing activity grew a modest 1.7 percent from a year ago on slower demand from the developed world. That offset near double-digit growth in sectors linked to domestic demand like restaurants, hotels and financial services.
The construction sector expanded 4.43 percent while the fisheries industry dropped 7.71 percent in the first month of the year.
(END) JJN/RES/MOC/EEP
Published: 3/15/2012