Copper Giant, Peru, Sees Economy Expand for Eighth Straight Month

• Peru's gross domestic product expanded 3.93% in November compared with the same month of 2023, marking the eighth-consecutive month of economic expansion, the South American government's INEI statistics agency said on Wednesday.
• November's economic expansion in the world's second-largest copper-exporting nation landed comfortably above the 3.1% forecast of analysts polled by Reuters, and topped October's growth rate of 3.38%.
• Peru also saw double-digit growth in its farming and fishing sectors, growing 12.4% and 17.6%, respectively. Peru is a top producer of fishmeal, a fertilizer made using anchovies. The manufacturing sector also grew by 6.7%. Its key mining and hydrocarbon sector; however, dipped 2.2% while its construction sector shrunk 2.4%.
• INEI attributed the lower mining output to less production of metals such as copper, zinc, gold, lead and molybdenum, even as Peru increased its hydrocarbon output.

 (Source: Reuters)