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LIMA, Feb 16 (Reuters) - Peru’s economy grew 2.35 percent in all of 2014, the slowest rate since 2009, after picking up slightly to expand by 0.54 percent in December over the year-earlier month, the state statistics agency Inei said on Monday.
The results were in line with forecasts in a Reuters poll last week but well under the government’s forecast early last year for a 6 percent expansion in 2014 and the average 6.4 percent rate posted in the previous decade.
Peru’s mining-fueled economy slowed sharply last year on low mineral prices, weak copper production and slipping gold output, said Inei.
A drop in fishing and coffee production also limited 2014 growth, while manufacturing activity slipped on weaker fishmeal and precious metals processing.
An ongoing slump in mining, fishing and manufacturing dragged on growth in December, Inei said, while construction, retail and services continued to grow at robust rates.
December’s expansion marked a slight quickening from November’s 0.31 percent year-on-year pace, the weakest since July 2009.
But growth contracted at a seasonally adjusted rate of 0.9 percent in December from November.
The economy expanded 1.4 percent in the fourth quarter compared with the year-earlier period, Inei said.
In 2013, the economy grew 5.8 percent.
The government and central bank have forecast a 4.8 percent expansion this year on large mining and infrastructure projects.
The unemployment rate for metropolitan Lima was 6.4 percent in the November through January period. (Reporting By Mitra Taj Editing by W Simon)