Peru’s economy expanded 7.49 percent in August - and 7.51 between January and August

Peru’s economy expanded 7.49 percent in August 2011, totalling 24 months of consecutive growth, reported on Thursday the National Statistics Institute (INEI).

This way, the growth of the Gross Domestic Product (GDP) between January and August amounted to 7.51 percent, while the rise between September 2010 and August 2011 (last 12 months) jumped 8.14 percent.

Agricultural activity in August rose 5.8 percent driven by the farming and livestock sub sectors (7.85 percent and 3.57 percent respectively).

The Agricultural activity increased 3.69 percent between January and August, driven by the farming and livestock sub sectors (2.24 percent and 6.04 percent respectively).

Fishing sector grew 82.57 percent in August due to the Maritime Fishing positive result (98.41 percent) and spite the drop in Continental Fishing (-7.41 percent).

From January to August, Fishing rose 26.81 percent due to Maritime Fishing positive result (29.92 percent) and the Continental Fishing drop (-10.90 percent).

In August, the Mining and hydrocarbons sector rose 3.19 percent due to the metal production positive evolution (2.30 percent) and hydrocarbons activity (7.21 percent).

From January to August, Mining and hydrocarbons fell 0.78 percent due to the drop of the mining metallic sector (-5.38 percent) and a rise in the hydrocarbons sector (26.43 percent).

Construction increased 6.66 percent, while Trading jumped 8.51 percent in July. During the first eight months of the year, Construction accumulated an increase of 3.56 percent and Trading increased 9.17 percent. (Andina)