Peru: Businesses confidence falls in March but remains positive
April 9, 2014
In March, businesses confidence reached 54 points, which was down from the 10-month high of 60 points registered in February, according to the Central Bank's business confidence indicator. Business confidence has been in optimistic territory-above the 50-point threshold that separates optimism from pessimism-since July of 2011, except for a one-off dip into negative territory in August of last year.
Expectations for demand conditions and hiring in the next three months moderated in March. In addition, purchase orders and sales levels were down slightly compared to the previous month. That said, businesses maintained their projections regarding access to credit access and were a bit more positive regarding their inventory situation with respect to the previous month.
FocusEconomics Consensus Forecast panelists expect fixed investment to grow 6.9% this year, which is down 0.4 percentage points from last month's forecast. For 2015, panel participants see investment growing 7.6%.
Author: Carl Kelly, Economist