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Peru's economy grew by 6.92 pct in 2011
(Photo: Andina)
By Manuel Vigo
February 16, 2012
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On Thursday the Peruvian government announced the country’s economy grew by 6.92 percent in 2011, above earlier predictions.
According to the National Institute for Statistics and Informatics (INEI), the country’s economy grew by 5.96 percent in December from the same month a year ago.
Aanalysts had originally estimated economic growth would reach 5.5 percent in December, and 6.8 percent in 2011, reported Gestión.
However, last year’s growth was lower than the 8.8 percent growth experience in 2010 - due, in part, to Europe’s debt crisis and the slowdown in the U.S. economy.
The INEI’s report said Peru’s economic growth in 2011 had been driven by an increase in domestic demand.
According to Gestión, they country’s trade grew by 8.82 percent last year, while manufacturing grew by 5.56 percent.
The construction sector grew by 3.43 percent, lower than in 2010.
The government has predicted Peru’s economy would grow by 5.5 percent in 2012, mostly driven by the increase in domestic demand.
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COMMENTS:
Total coments: 4
Commented By: Evanwalden
On: February 16, 2012. 9:29 pm
Peru did not grow by 5.96% in December alone. If it had, then with a growth rate of 6.92% for the whole of 2011,it would mean that from January to November, the economy grew by only 0.96%. What you mean is the economy grew at an annualised rate of 5.96% in December. With your figures for December, the economy would have grown at an annualised rate of 71.52%. Please some basic economics... or even just learn to count.
Commented By: KWITHMAN
On: February 17, 2012. 12:41 pm
It says that Peru's "economy grew by 5.96 percent in December from the same month a year ago." The line "from the same month a year ago" indicates that a year has passed, so they did not simply state that the growth was seen in that month alone.
Commented By: Evanwalden
On: February 18, 2012. 2:52 pm
KWITHMAN, I can read. The writer changed it and well done to him. It originally said in December alone and so that is why I commented. Understandably, when the figures came out, there was no clarification and so the figure was open for misunderstanding.
Commented By: Evanwalden
On: February 18, 2012. 2:55 pm
The original wording is still on the contents page. I suggest you chane that as well. http://www.peruthisweek.com/news-1581-Perus-economy-grew-by-692-pct-in-2011/ "Peru's economy grew by 6.92 pct in 2011 February 16, 2012 12:00 pm According to the National Institute for Statistics and Informatics (INEI), the country’s economy grew by 5.96 percent in December alone."
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