LatinNews Daily Report - 17 May 2013

ECONOMY | Peru growth weakest since October 2009. Peru registered economic growth of 3.01% year-on-year in March, the national statistics institute (Inei) reported on 16 May, as weaker growth in China and Europe reduced demand for the country’s main copper and zinc mining exports. Peru’s exports fell 16% year-on-year in March, the fourth consecutive monthly decline. Meanwhile the local manufacturing sector fell 3.6% during the period, partially offsetting a 3.8% increase in construction and 4% growth in the retail sector. The first quarter annualised result was still a strong 4.8% and the rolling 12 -month figure (April 2012-March 2013) was 6.0%. On that basis the government and private analysts still expect a full year GDP result of 6.15%, twice the forecast regional average this year. On 9 May the central bank kept the benchmark lending rate at 4.25% for the 24^th month in a row, citing weak global markets and slowing inflation. Annual inflation was 2.31% in April, the lowest in over two years, down from 2.59% in Marc

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