Peru: Business confidence falls back into pessimistic territory in August
September 5, 2014
Business confidence dropped to 48.5 points in August, according to the Central Bank’s business confidence indicator. The result marked a deterioration over the 50.6 points registered in July. Moreover, August’s reading marked the lowest level in a year and the second lowest level in more than three years. As a result of the decline, business confidence has returned to pessimistic territory.
Businesses expressed negative sentiment regarding the outlook for the economy as a whole in the coming three months, but were slightly more optimistic regarding the outlook for their particular sectors. Firms’ outlook in terms of new hiring also weakened compared to the previous month. Moreover, businesses were less positive about their current general situation.
Author: Carl Kelly, Economist