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Peru Sees Significant Growth

Peru Sees Significant GrowthPeru Sees Significant Growth

Peru’s economy grew by a faster-than-expected 3.39% in May from the same month a year earlier, the quickest pace in four months thanks to a surge in anchovy catches that offset an ongoing slump in construction, state statistics agency Inei said, Reuters reported. The economy expanded 1.96% year-on-year in the first five months of 2017 and 3% in the 12 months through May, Inei said. The finance ministry said the robust expansion in May marked a turning point for the economy following a sharp slowdown earlier this year in the wake of severe flooding and a graft scandal that stalled public work projects.

 

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