Peru: Consumer confidence falls for second consecutive month
April 17, 2013
The consumer confidence indicator published by APOYO Consultoria edged down from 57 points in February to 56 points in March, which represents the lowest level in four months. Despite the monthly drop, the index remains well above the 50-point threshold, which indicates that optimistic respondents outnumber pessimistic ones.
According to APOYO, the monthly decline mainly reflected seasonal effects, as households - particularly in the medium socio-economic levels - judged negatively the price increase registered in March, due to the start of the academic year. In addition, consumers in the lower socio-economic levels were less upbeat regarding the current situation in the labour market.
FocusEconomics Consensus Forecast panellists expect total consumption to expand 5.9% this year, which is unchanged from last month's estimate. For 2014, panellists expect total consumption to grow 5.7%.
Author: Ricardo Aceves, Senior Economist