LIMA: Peru's economy grew 6.47 percent in May from a year earlier, the government statistics agency said on Sunday, topping expectations.
May's growth rate, however, still came in below the 7.4 percent expansion the emerging economy posted during the same month a year ago.
Economists surveyed by Reuters had predicted year-on-year growth of 5.4 percent fin May or the global metals exporter, driven by solid performance in the construction, retail and service sectors.
The government's statistics agency (INEI) had been expected to release the data on Monday. (http:/www.inei.gob.pe/)
In April, growth came in at a two-year low of 4.37 percent, pulled down by shrinking demand for the Andean country's metals exports.
According to data already released from INEI, mining and energy, once the engine of China-paced growth in Peru, expanded 1.28 percent in May, similar to the sector's performance in April.
Peru's government estimates 2012 growth will come in at 6 percent, below last year's 6.92 percent rate but potentially still one of the fastest rates in Latin America.
The country's central bank, which has a 5.8 percent annual growth forecast, held its interest rate at 4.25 percent as expected last week. Some analysts predict it could lower the rate by year's end to boost growth as inflation slows.
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