Peru's National Institute of Statistics and Informatics (INEI) revised GDP growth rate for November 2016 lower to 3.22%, due to incorrect information on mining production, instead of the 3.61% increase reported on Monday.
In this sense, the cumulative GDP growth for the January-November period was 3.91%.
On the other hand, GDP saw an accumulated gain of 4.14% for the 12 month-period from December 2015 to November 2016, compared to the same period the year before.
In order to prepare the monthly data on mining production, INEI uses Energy and Mines Ministry statistical information on extraction of principal mining products.
"For November 2016, the information incorrectly included duplicate data on copper extraction of a mining unit. This information led to a mistake in calculating the monthly national production indicator for November 2016, prepared by INEI," he affirmed.
For the sake of information transparency and after correcting this duplication mistake in mining data, INEI has provided new calculations for November's metal mining output, revised to 16.28%.
"With these corrections, the variation in the November 2016 mining and hydrocarbon production is 12.26%," INEI reported.
(END) CNA/MDV/RMB/MVB
Published: 1/17/2017