off-the-wire

UPDATE 1-Peru's economy shrank in January after nearly two years of growth

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds details and context on GDP) March 15 (Reuters) - Peru's gross domestic product contracted 1.12% in January compared with the same month a year before, official data showed on Wednesday, marking the first contraction in 22 months as anti-government protests played out across the country. The economic activity of various sectors in the world's no. 2 copper producer shrank in January, including mining, construction, retail, transportation and telecommunications.


Manufacturing, restaurants and the power sector, however, experienced growth during the first month of the year.


Economic activity during January was hit by "social conflicts, which paralyzed labor, blocked roads, (and) saw markets shut" in parts of the country, the national statistics agency said in a statement.


Exports also dropped, the statement added, as well as investment in construction.
(Reporting by Kylie Madry and Isabel Woodford; Editing by David Alire Garcia)

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