Peru Business Confidence May 2019

Peru

Peru: Business confidence at its lowest in seven months

June 7, 2019

The business confidence indicator declined from April’s 55.9 to 52.9 in May, but nevertheless remained above the 50-point threshold that separates optimism from pessimism, where it has been for over two years.

May’s decline came on the back of worse assessments of current conditions, and of less rosy expectations on the economy as a whole and on the situation of the company. With regards to the current situation, the deterioration was broad-based: Firms had less favorable assessments of sales; production; demand; and new orders. As for the outlook, companies had worse views on the general economic situation, and the situation of the firm, in the next 3 and 12 months. However, expectations on the company’s specific demand and on job creation were largely stable, while firms were more confident in the short- and medium-term outlook of their own sector of activity.

Panelists expect fixed investment to contract 3.9% in 2019, which is unchanged from last month’s forecast. For 2020, panel participants see investment growing 3.6%.


Author: Massimo Bassetti, Economist

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Peru Business Confidence May 2019 0

Note: Business Confidence Index (Indice de Confianza Empresarial). Values above 50 indicate an optimistic assessment of the business climate while values below 50 indicate a pessimistic assessment.
Source: Peru Central Bank (BCRP).


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