Bloomberg News

Peru’s GDP Growth Accelerates for First Time Since 2010

May 25, 2012

Peru’s economic growth accelerated in the first three months of the year for the first time in seven quarters on a surge in construction.

Gross domestic product rose 6 percent from the same period a year earlier, the government’s statistics agency said today in an e-mailed report. Growth picked up from 5.5 percent in the previous three months after slowing every quarter since a peak of 10.1 percent in the April-to-June period of 2010.

Domestic demand climbed 6.3 percent as a rebound in construction spurred a 16 percent jump in fixed asset investment, the agency said. Construction activity, which rose 3.4 percent last year, jumped 12 percent on stronger private investment and government infrastructure spending.

Retail activity climbed 7.9 percent while manufacturing contracted 0.9 percent, amid reduced exports of textiles and lower output of fish products, the agency said.

To contact the reporter on this story: John Quigley in Lima at jquigley8@bloomberg.net.

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net.


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