LIMA: Peru's economy grew at a faster-than-expected rate of 6 percent in February from the same month a year earlier on surging copper and gold production, state statistics agency Inei said on Friday.
The annualized growth rate picked up to 3.79 percent in February, Inei said, showing an ongoing recovery on the back of new mining projects as domestic demand remains relatively weak.
The growth rate in February was the second fastest monthly expansion in two years, behind December's pace of 6.39 percent.
Copper output jumped 73.7 percent in February helped by the expansion of Freeport McMoRan Inc's Cerro Verde mine, Inei said. Gold production rose 13.3 percent on rising output from new gold mines and a rebound in activity by small-scale miners.
Construction activity that shrank last year expanded 5.37 percent in February as public works by provincial governments offset a drop in investments by the central government, Inei said. Fishing and manufacturing activity both contracted in February, the statistics agency said.
A Reuters poll this week had forecast a 5.1 percent year-on-year economic expansion in February.
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