(Reuters) -Peru’s economy grew in January, the government’s INEI statistics agency said on Friday, fueling hopes the country can emerge from a stubborn recession this year.
Gross domestic product (GDP) expanded 1.37% in January compared to the same month last year, when the Andean nation’s economy was impacted by protests and social upheaval.
The positive figure, however, came in under the 1.70% growth forecast predicted by analysts polled by Reuters.
January’s expansion was led by the construction sector, which grew 13.16%, as well as the critical mining and hydrocarbons sector, which was up 3.96%. Peru is the world’s No. 2 copper producer.
The country’s important fishing sector contracted 26.75%, hurt by a drop in anchovy volumes. Anchovy is critical in making fertilizer fishmeal, of which Peru is a top producer.
(Reporting by Brendan O’Boyle; Editing by Kylie Madry)
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