Peru Business Confidence June 2020

Peru

Peru: Business sentiment improves in June, remains pessimistic in short-term

July 2, 2020

Business confidence jumped to 29.0 in June, up from May’s 14.0 reading as firms continued to react to the easing of lockdown measures in recent months. However, the indicator still came in well below the 50-point threshold that separates pessimism from optimism.

June’s uptick reflected a broad-based improvement in firms’ views. Expectations on the general economic situation in the next 3 months were less pessimistic, while views for the next year turned mildly optimism. The same pattern was reflected in views on the conditions of firms’ sectors, businesses’ outlook on their company’s financial situation and their perception of demand for their company’s products in the same time periods. As such, most subindices pushed above their values from March, reflecting a significant recuperation in sentiment since the beginning of the pandemic.

In wake of the Covid-19 pandemic, the LatinFocus Consensus Forecast sees fixed investment plunging 20.0% this year, which is down 8.6 percentage points from last month’s forecast. Next year, fixed investment is seen recovering and growing 9.9%.


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Peru Business Confidence June 20 20 1

Note: Business Confidence Index (Ïndice 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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