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Peru's economy grows 1.68% year-on-year in November

Reuters
·1-min read
The spread of the coronavirus disease (COVID-19), in Lima

LIMA (Reuters) - Peru's economy expanded 1.68% in November compared with the same month a year before, the national statistics institute (INEI) said on Sunday, marking a slight slowdown from the year-on-year rise of 2.01% in October.

Various sectors in the world's no. 2 copper producer drove growth in November, including mining, agriculture, power utilities, construction, retail, transportation and other services.

Activity lagged, however, in manufacturing, telecommunications, finance and fishing.

From January to November, the economy grew 2.70%, INEI said.

A central bank official last week said the Andean country's economy likely grew just under 2.9% last year, less than forecast, due in part to protests over the ousting in December of former leftist President Pedro Castillo.

(Reporting by Marco Aquino; Writing by Daina Beth Solomon; Editing by Lisa Shumaker and Grant McCool)