April rebound quashes slowdown fears for Peru, says Velarde

April rebound quashes slowdown fears for Peru, says Velarde

Economy & Policy

Peru's central bank governor sought Wednesday to allay fears of a slowdown with fresh data showing an economic rebound in April. Speaking at LatinFinance's Andean Forum, Julio Velarde said the economy grew by 7.4% in April – the fastest monthly expansion this year. He said the economy was on track to expand by 6.5% in 2013, adding that the numbers were evidence of solid demand for the country's exports. The news will come as a relief to investors and policymakers anxious at a paltry 4.8% expansion in the first quarter. Velarde said apparently weak first quarter numbers compared to a year earlier were due in part to fewer work days in the first three months of the year – a fact that m

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