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Peru economy grows 5.1 percent in November

Peru economy grows 5.1 percent in November

Peru says its economy grew 5.1 percent in November compared to the same month in 2007.
November marked the 89th month of consecutive growth for Peru, Latin America's fastest-growing economy. But the growth rate is significantly lower than the 8.7 percent registered in October 2008.
The National Statistics Institute attributes the drop to a three-day holiday during a November summit of 21 Pacific Rim nations in Peru's capital _ not to falling prices for mineral exports.
A report by the institute released Thursday says Peru's economy grew 9.5 percent in the first 11 months of 2008.
The government projects the growth rate for all of 2008 to be between 9.1 percent and 9.3 percent. Growth in 2009 is expected to drop to 6 percent.


Updated : 2021-05-18 05:30 GMT+08:00