Peru Consumer Confidence August 2017

Peru

Peru: Consumer confidence plummets to a record low in August

September 4, 2017

The consumer confidence indicator published by GfK plunged to an all-time low of 84 in August from July’s 98, moving well below the crucial 100-point threshold which separates pessimism from optimism among Peruvian consumers. Confidence fell more sharply in the capital Lima compared to other parts of the country.

Only 20% of households country-wide deemed that they will be able to save more in the next 12 months compared to 32% in the previous month, while the proportion of households who considered there will be higher growth and improved employment dropped to 27% in August from 32% in July. Despite the uptick in growth in Q2, a greater proportion of respondents perceived growth to be slowing. Furthermore, 68% of respondents expressed discontent with the government’s actions, believing that no effective action is being taken, compared to 54% in July and 46% in June.

Panelists surveyed for this month’s LatinFocus report expect private consumption to expand 2.5% in 2017, which is unchanged from last month’s estimate. In 2018, panelists expect private consumption to grow 3.3%.


Author:, Economist

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Peru Consumer Confidence August 2017 0

Note: Consumer Confidence Index (ICC, Indice de Confianza del Consumidor). Values above 100 indicate optimistic consumer sentiment while values below 100 indicate pessimistic sentiment.
Source: GfK Peru.


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