59862
Peru Q4 Growth Slowest in 2 Years
Peru Q4 Growth Slowest in 2 Years

Peru Q4 Growth Slowest in 2 Years

Peru Q4 Growth Slowest in 2 Years

Peru’s economy grew 3% in the fourth quarter from a year earlier—the slowest quarterly expansion in nearly two years—as shrinking investments offset robust mining activity and natural gas drilling, official data showed, Nasdaq reported. Central government investments plummeted 48% in the fourth quarter, contributing to a 9% drop in construction, state statistics agency Inei said in a statement. Private investments fell 3.5% in the quarter. The October-December period was the first full quarter overseen by President Pedro Pablo Kuczynski, who took office in late July with promises to revive domestic demand with infrastructure projects. However, a bigger-than-expected fiscal deficit that Kuczynski inherited from the previous government has delayed those plans. Sharp spending cuts in the fourth quarter helped trim the fiscal deficit to 2.7% of gross domestic product last year. The fourth quarter reading marked the slowest year-on-year quarterly expansion since the first three months of 2015. But in all of 2016, the economy grew 3.9% thanks to a surge in copper production that offset a drop in manufacturing, construction and tepid growth in retail sales and services.

 

Short URL : https://goo.gl/ikBwWO
  1. https://goo.gl/phca8p
  • https://goo.gl/Tc5jTk
  • https://goo.gl/Esf39M
  • https://goo.gl/exlHIc
  • https://goo.gl/0G2sE6

You can also read ...

Cyber threats are ever-evolving.
The White House released a report that found that the economic...
Global Investors Target Zimbabwe Energy Sector
Zimbabwe has become a magnet for billionaire global firms such...
BSP said the planned RRR cuts are part of the bank’s financial market reforms.
The Bangko Sentral ng Pilipinas said it was reducing banks’...
FAO regional representative Julio Berdegue (R), and the deputy regional representative Eve Crowley.
Identifying territories where rural poverty is most entrenched...
Asean Labor Flows Hit a Wall
Tighter restrictions on foreign labor in Malaysia and Thailand...
The country’s GDP grew by 3.2% in 2017 but will  edge down in the coming years.
A report by the International Monetary Fund showed Sunday that...
Baby-boomers will start turning 75 or older in 2022, which is expected to trigger a surge in health care and nursing care costs.
Amid stalling inflation and ballooning government spending,...
Lagarde Backs Creation of European Monetary Fund
International Monetary Fund chief Christine Lagarde has no...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus