Peru: Consumer confidence increase to four-month high
May 12, 2014
In April, the consumer confidence indicator published by APOYO Consultoria increased from March's 51 points to 54 points. April's surge in optimism represents the strongest increase since December 2013.
All of the sub-components that compose the indicator improved in April, except for expectations regarding the evolution of inflation. The overall optimistic result was driven by an improvement in consumer expectations regarding their own economic situations as well as conditions in the labor market. According to APOYO, the monthly result reflects the relative stabilization in employment in Metropolitan Lima, which increased in April after three months of decline.
Optimism regarding the overall economy was shared across all socioeconomic levels. Individuals in the high-income bracket expressed optimistic prospects for employment conditions, whereas those in the low-income bracket were more confident regarding their domestic economic situations and their future capacity to improve housing conditions.
FocusEconomics Consensus Forecast panelists expect total consumption to expand 5.4% in 2014, which is up 0.1 percentage points from last month's estimate. For 2015, panelists expect total consumption to grow 5.3%.
Author: Carl Kelly, Economist