Peru: Business confidence drops to six-month low in February
March 11, 2015
Business confidence came in at 50.2 points in February, according to the Central Bank’s business confidence indicator. The result was a deterioration compared to the 54.2 points registered in January and marked the lowest reading since August of last year. Business confidence is now barely above the 50-point threshold that separates optimistic from pessimistic territory.
Businesses had lower expectations not only for the economy as a whole in the next three months but also regarding the short-term outlook of their sector and business in particular. Expectations for product demand and plans for new hiring were also down in January. Businesses’ expectations for the economy in the coming 12 months also deteriorated. Opinions regarding the current business situation moderated, although businesses did express better views of their current financial situation.
Author: Carl Kelly, Economist