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.
(Reporting by Marco Aquino; Writing by Aida Pelaez-Fernandez; Editing by Sarah Morland)
