Nov. 28 (Bloomberg) -- Peru’s economy expanded more than economists expected in the third quarter, led by construction and investment in heavy machinery and equipment.
Gross domestic product, the broadest measure of a country’s output in goods and services, grew 9.5 percent in the third quarter from the same period a year earlier, the National Statistics Institute said today.
The expansion was slower than the revised 10.5 percent growth rate posted in the second quarter though faster than the 9 percent median estimate in a Bloomberg survey of 12 economists.
Peru’s exports rose 8 percent in the third quarter on stronger external demand for mining products and flour, compared to the same period a year earlier, the report said. Imports of goods and services grew 26.1 percent over the same period a year earlier, the institute said.