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Peru economy grew 2.47 percent in April

Staff writer |
Peru's economy grew by a slower-than-expected 2.47 percent in April from the same month a year earlier as surging copper output offset a drop in fishing and manufacturing activity, state statistics agency Inei said.

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The official result marked the weakest monthly expansion since May of 2015 and followed restrictions on anchovy catches that hit fishmeal factories.

Fishing shrank 77 percent and manufacturing activity dropped 13.7 percent year-on-year in April, Inei said. But copper production jumped 55.6 percent thanks to rising output from new mines, and construction activity expanded 1.36 percent.

In the first four months of the year, the economy expanded 3.9 percent year-on-year while the annualized growth rate slowed slightly to 3.7 percent in April, Inei said.

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