Peru's strong 2004

December 2004 saw Peru celebrate its 42nd consecutive month of economic growth with a "significant improvement in the principal macroeconomic indicators," according to the central bank in its report for the year.

GDP grew at 4.8% for the year, a rise on 2003's rate of 4%, as external demand surged 14.7% and domestic demand grew by 3.9%. All sectors of the economy expanded, the report notes, except for agriculture which contracted as a result of a drought.

Inflation, at 3.48%, was within a whisker

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