Peru's economy grew 9.84 percent in 2008, its biggest gain in 14 years (in 1994 grew 12.80 percent), consolidating Peru's economic expansion for the tenth consecutive year, the National Institute of Statistics and Informatics (INEI) reported Monday.
In December 2008, Peru's Gross Domestic Product (GDP) rose 4.90 percent totaling 90 months of consecutive growth.
Construction was a bright spot in December, climbing 10.33 percent, and growing 16.46 percent in 2008. Mining was relatively weak in December, growing 3.41 percent, and rose 7.58 percent for the year.
This year, Peru's economy is expected to slow to about 5 percent as prices fall for its metals exports, which normally make up 60 percent of all exports. Credit growth is also slowing on the global financial crisis.
But the government has unveiled a stimulus package to boost public investment at a time when capital spending by businesses is slipping.
The jobless rate in metropolitan Lima, which is used as a proxy for the country, rose to 8.8 percent in the last three months through January, from 8.1 percent in the same period last year. (Andina)
In December 2008, Peru's Gross Domestic Product (GDP) rose 4.90 percent totaling 90 months of consecutive growth.
Construction was a bright spot in December, climbing 10.33 percent, and growing 16.46 percent in 2008. Mining was relatively weak in December, growing 3.41 percent, and rose 7.58 percent for the year.
This year, Peru's economy is expected to slow to about 5 percent as prices fall for its metals exports, which normally make up 60 percent of all exports. Credit growth is also slowing on the global financial crisis.
But the government has unveiled a stimulus package to boost public investment at a time when capital spending by businesses is slipping.
The jobless rate in metropolitan Lima, which is used as a proxy for the country, rose to 8.8 percent in the last three months through January, from 8.1 percent in the same period last year. (Andina)
peru, economy, grows, 9, 84, pct, in, 2008, its, fastest, pace, since, 1994
peru, economy, grows, 9, 84, pct, in, 2008, its, fastest, pace, since, 1994
