LIMA -- Peru statistics institute INEI reported that real GDP rose 4.3% yoy in April -- the fastest annual growth rate since March 2014.
This was above the median market forecast of 4.0% yoy.
The mining sector rose 9.3% yoy and added a full percentage point to headline GDP growth. According to INEIís bulletin, mining sector growth was supported by strong copper, gold, zinc, and lead production.
The manufacturing and fishing sectors added 0.9 p.p. and 0.7 p.p. to headline GDP growth respectively.
The government pulled forward the first fishing season of the year, which helped the fishing sector and subsequently the manufacturing sector.
The non-primary manufacturing sector, however, continued to be affected by weak external demand.
Meanwhile, the construction sector was the worst performer of the month, held back by a declines public works given lower investment at national and regional levels, and subtracted 0.6 p.p. from headline growth.