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Peru's GDP up 3.7% in 3Q 2017 (deseasonalized)Monday, November 27, 2017 > 09:57:35
Peruvian economy registered a 3.7% rise in the third quarter of 2017 —in deseasonalized terms— thus remaining on the recovery trend witnessed since last June, the Central Reserve Bank (BCR) reported.
According to BCR, Peru's GDP grew 3.18% in September, higher than the figure recorded last August.
In this sense, GDP registered a 2.5% variation in the third quarter of the current year and experienced an accumulated growth of 2.4% during the first nine months of 2017.
It must be noted September's GDP growth was underpinned by better dynamism in the mining and construction sectors.
Greater extractions of copper, molybdenum and zinc stood out in this sense.
It must be noted the construction sector saw its fourth month of consecutive growth due to greater public and private investments.
BCR noted sectors such as trade, farming, telecommunications, transport, storage and financial services also contributed to said expansion.
On the contrary, manufacturing and fishing activities decreased in the analyzed month.
The farming sector grew 3.1% in September 2017, underpinned by an increase in agricultural (1.3%) and livestock (5.0%) production.
On the other hand, the mining and hydrocarbon sector saw a 7.1% rise due to higher output of copper, zinc, iron and molybdenum.
Nevertheless, production of natural gas and natural gas liquids dropped.
The construction sector went up 8.9% supported by increased private and public investments.
Construction sector indicators showed greater progress in both public and private works (real estate projects, commercial and business centers).
In the analyzed month, electricity, water and gas sector also climbed 1.8% from the same month the previous year, whereas the electricity subsector inched up 2.0%.
In addition, the trade sector increased 1.6% thanks to a rebound in sales and repair of cars (4.4%), as well as in retail (2.0%) and wholesale (1.1%) activities.
Also, the services sector edged up 3.5%.
Such growth was explained by greater performance in the transport, telecommunications, accommodation and restaurant subsectors, as well as in financial services and services provided to companies.
In this month, the manufacturing sector also registered a 2.6% decrease due to lower production of primary and non-primary manufacturing segments.
Finally, the fishing industry saw a 30% drop due to lower catches of species destined for direct human consumption.