Peruvian economy grows 9.5 in third quarter

Peru's economy grew 9.5 percent in the third quarter, the fastest pace in Latin America. Peru's National Statistics Institute said growth slowed only slightly after expanding by 9.9 percent in the first two quarters compared to the year-ago period. The institute on Friday said Peru's construction, mining and fishing industries largely withstood the world economic crisis to lead third-quarter gains. The International Monetary Fund forecasts 9.2 percent growth in the Andean country this year, continuing more than seven years of expansion. Peru's economy swelled by 9 percent in 2007, but the government now expects growth to slow to 6 percent next year as the global downturn deflates prices for its mineral exports.