Peru: Consumer confidence neutral for 3rd consecutive month
October 24, 2013
In October, the consumer confidence indicator published by APOYO Consultoria remained unchanged at 50 points for the third consecutive month, which is the lowest level since May 2010. Consumer sentiment remains in neutral territory, resting on the 50-point threshold that separates optimism from pessimism.
The print, which contrasts the historically-high levels recorded earlier this year, reflects an improvement in consumers' inflation expectations, which was offset by a deterioration in the four remaining components. In particular, consumers were more pessimistic regarding the country's economic situation and employment prospects. Regarding socioeconomic levels, those with higher income levels were more pessimistic, whereas the expectations of people with a low income remained stable.
FocusEconomics Consensus Forecast panelists expect total consumption to expand 5.5% this year, which is down 0.1 percentage points from last month's estimate. For 2014, panelists expect total consumption to grow 5.4%, which is up 0.1 percentage points from last month's projection.