Peru’s economy grew in January, the government’s INEI statistics agency said on Friday, fueling hopes for the nation to emerge from a recession this year.

The gross domestic product (GDP) expanded 1.37% in January compared to the same month last year when widespread protests and social upheaval ravaged the economy. The figure came under the estimates that the economy would grow by 1.7% made by economic analysts.

January’s expansion was led by the construction sector which grew by 13.16%. The mining and hydrocarbons sector also went up by 3.96%. The mining growth was driven by a 4.98% expansion in metal mining. However, copper production dropped slightly by 0.33%. The country’s important fishing sector dropped by 26.74%, hurt by a drop in the anchovy population. Anchovy is critical in the production of fishmeal fertilizer, of which Peru is the largest producer.

Earlier this month, the Peruvian central bank’s top economist forecasted the economy returning to positive quarterly growth for the first time in three months of the year after a whole four quarters of economic decline. This is happening as inflation nears the bank’s target range and risks from the El Nino weather phenomenon are starting to moderate.