National statistics agency INEI said May experienced the slowest monthly expansion since 2009.
Analysts had expected weak growth for the month, but the figure came in slightly below some forecasts. GDP grew 2.0% in April, 4.9% in March and 5.7% in February.
INEI said the country’s accumulated economic growth between January and May was 3.57%.
In May, activity in the mining and hydrocarbons sector contracted 4.49%, while in the manufacturing sector it fell 2.53%. The construction sector, however, grew 4.75% and the finance and insurance sector expanded 12.59%.
Peru’s economy has been hurt by a decline in exports due to lower commodity prices for products such as copper and by lower-than-expected mining output. The country’s gold production in May fell 24.6% compared with a year ... Read More