Peru: Growth Accelerates

Peru’s gross domestic product expanded 7.1 percent year-on-year in May, the fastest pace since December. Much of the growth came from non-commodities industries, as manufacturing gained 9.6 percent and construction rose 8 percent. Economy & Finance Minister Pedro-Pablo Kuczynski last week said the economy would grow 6 percent this year, compared with 5 percent in 2004.