Peru’s Economy soaring

Peru’s annual growth rate is at its highest since 1995, reports Alex Emery for Bloomberg.

Economic growth in the 12 months through October rose to 7.68%, an ascent fueled by the surging prices for Peru’s commodities. Many have reached records this year, specially in the mining industry (natural gas output, for example, surged 50 percent, while zinc rose 27 percent). Other sectors with a large growth rate include construction, manufacturing and farming.

According to Bear Stearns’ analyst, Franco Uccelli, “evidence of Peru’s strong macroeconomic performance is quite ample” as “trong domestic demand and very high levels of public and private investment are fueling economic growth”.

Add comment December 18th, 2006