Peru Consumer Confidence May 2016


Consumer confidence shoots up in May

In May, the consumer confidence indicator published by GfK jumped to 121 points from the 114 points tallied in April and hit the highest point since records began in 2012. The index is now even further above the 100-point threshold that separates optimistic from pessimistic territory.

According to the survey report, consumers’ outlook regarding the economy in Peru, as well as their assessment of their finances and savings improved substantially in May. Moreover, consumers reported that they expect employment to increase in the next 12 months. Optimism among survey participants in rural areas jumped up, while those living in the urban area of Lima were only slightly more upbeat than in the previous month.

Peru’s economy has been a bright spot in the region so far this year. GDP grew solidly in the first quarter and was mainly driven by healthy private consumption and increased exports of traditional Peruvian goods.

Panelists surveyed for this month’s LatinFocus report expect total consumption to expand 3.5% in 2016, which is unchanged from last month’s estimate. For 2017, panelists expect total consumption to grow 3.7%.

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Peru Consumer Confidence Chart

Peru Consumer Confidence May 2016

Note: Consumer Confidence Index (ICC, Indice de Confianza del Consumidor). Values above 100 indicate optimistic consumer sentiment while values below 100 indicate pessimistic sentiment.
Source: GfK Peru.

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