Andean Group - December 2008 (ISSN 1741-4466)

The economy grew 9.5% year-on-year in the third quarter. This was the fastest pace of growth for any economy in the region, but down slightly on on 9.9% growth in the first half of 2008. Construction, mining and fishing industries largely withstood the world economic crisis to lead third-quarter gains. The IMF is forecasting that the economy will grow by 9.2% in 2008. The economy has been expanding for the past seven years.

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