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Peru’s Economy Grows 3.62% in October, Led by Mining, Fishing and Construction

The latest INEI reading bolsters the MEF’s 3.5% full-year outlook.

Overview

  • Growth eased from September’s 3.94% and came in below some forecasts that anticipated about 4%, according to the INEI and prior estimates cited by local media.
  • January–October activity rose 3.36% year over year and the 12‑month variation reached 3.66%, INEI data show.
  • Mining and hydrocarbons expanded 6.81% on stronger zinc, copper and other metals output, while gold production declined.
  • Fishing jumped 25.70% on higher maritime catches for direct consumption, offset by a 75.3% plunge in anchoveta landings for fishmeal and oil.
  • Construction increased 4.39% on a 9.05% rise in domestic cement consumption as public works progress fell 4.82%, while telecommunications contracted 1.01%, the only sector in decline; total exports rose 33.07% with traditional shipments up 47.46%.