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Peru: Sectors that fueled 1.55% GDP growth in July 2017Tuesday, September 19, 2017 > 10:37:10
Peruvian economy grew 1.55% in July 2017, mostly underpinned by the positive performance of non-primary sectors like construction and trade, as well as of mining and farming, National Institute of Statistics and Informatics (INEI) reported.
According to INEI head Anibal Sanchez, most of the sectors showed gains during the seventh month of the year.
The farming sector rose 9%, thus registering its highest growth rate since December 2012.
This result is consistent with the ones obtained for agricultural (14.28%) and livestock (1.43%) sub-sectors.
Mining and hydrocarbons
Likewise, the mining and hydrocarbons sector went up by 1.8%, led by an increase in metal-mining activities (4.26%).
Nevertheless, hydrocarbons production slid 11.02%.
INEI informed construction expanded 3.8%, driven by higher cement production (1.41%) and further investment in public works (11.1%).
On the other hand, the trade sector saw an expansion of 1.21% over the same month in 2016. Such growth was explained by the positive performance in sale and repair of motor vehicles (4.88%).
Electricity, gas and water
Lastly, the electricity, gas and water sector achieved 1.31% rise, supported by electricity (1.84%) and water (0.15%) sub-sectors. Gas output witnessed a 14.28% decrease, though.