May 20, 2017 / 7:44 PM / a year ago

Peru: economy grew 2.1 pct in first quarter, lowest rate in two years

LIMA, May 20 (Reuters) - Peru’s economy grew by 2.1 percent in the first quarter versus the same 2016 period, its lowest rate in two years due to floods that weighed on construction activity, according to data released Saturday by the country’s official statistics office.

The government had warned that growth was negatively affected by severe flooding during the first three months of the year, which led to a 5.3 percent decline in construction.

Growth was supported during the quarter by a 2.2 percent rise in private consumption and a 13.1 percent increase in export demand, according to the INEI statistics office.

The country’s gross domestic product expansion for the quarter was the lowest since 1.9 percent growth was registered in the first three months of 2015.

Economic growth was 4.4 percent in the first three months of 2016 and 3 percent in the fourth quarter, according to INEI. (Reporting by Ursula Scollo; Editing by Bernard Orr)

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