LIMA, Oct 15 Reuters - The gross domestic product of Peru grew in August 11.83% compared with August 2020, it was six straight months of economic growth for the South American country, the government's Statistics Agency said in a statement on Friday.
The expansion in August was driven principally by the construction and manufacturing sectors, it said.
In the first eight months of 2021, Peru's economy grew 18.59%, the statement from INEI said. In the 12 month period through August, the country's GDP increased 10.46%, it added.
The copper producer country has been through turbulent political waters as new President Pedro Castillo, a leftist former school teacher, sets a new policy course.
Prior to Castillo's election, the country had been racked by one corruption scandal after another.
Fitch said on Friday that it downgraded Peru's Lending-term Currency Bond Rating to BBB from BBB-Plus.
In recent years, Peru's market underlying investment and economic outlook has weakened as a result of political volatility, Fitch said in a statement.