Peru Business Confidence May 2020

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Peru: Business sentiment ticks up in May, remains deeply pessimistic

June 4, 2020

Business confidence edged up in May to 14.0, pulling away from April’s record low of 9.1 points as firms reacted to the initiation of easing of lockdown measures in the month. However, the indicator still came in well below the 50-point threshold that separates pessimism from optimism.

May’s uptick reflected a broad-based improvement in firms’ views. Expectations on the general economic situation in the next 3 and 12 months were less pessimistic, as were the views on the conditions of their sector in the same time periods. Furthermore, firms’ outlook on their company’s financial situation and on demand for their company’s products also ticked up marginally. However, most subindices stayed significantly below their values from March, reflecting the severity of the situation looking ahead.

In wake of the Covid-19 pandemic, the LatinFocus Consensus Forecast sees fixed investment plunging 11.4% this year, which is down 6.3 percentage points from last month’s forecast. Next year, fixed investment is seen recovering and growing 6.7%.


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Peru Business Confidence May 20 20

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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