Peru's GDP grows 0.31% in April, misses expectations
Reuters
Published Jun 16, 2023 01:51
LIMA (Reuters) - Peru's gross domestic product (GDP) expanded 0.31% in April compared with the same month last year, the government's INEI statistics agency said on Thursday, nevertheless landing below analysts' expectations.
Analysts polled by Reuters had forecast growth of 1.5% increase, after a 0.22% rise recorded in March.
The increase marks the second consecutive month of gains for the economy of the world's No. 2 copper producing nation, which is recovering from nationwide anti-government protests that hit its output earlier this year.
The April expansion was boosted by the country's mining and hydrocarbon industry, up 17.41% from a year earlier, while its agricultural sector shrunk 14.21% over the same period.
Local manufacturing was slowed by heavy rainfall, INEI said, as floods and overflowing rivers hindered traffic and affected food supplies.
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Written By: Reuters
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