Peru Consumer Confidence September 2017

Peru

Peru: Consumer confidence recovers some lost ground in September

October 6, 2017

The consumer confidence indicator published by GfK rebounded from August’s all-time low of 84 in August to 91 in September, nonetheless remaining well below the crucial 100-point threshold which separates pessimism from optimism among Peruvian consumers. Confidence grew in nearly all regions of the country, and more sharply in the capital Lima. On the downside, in Central Peru the consumer confidence indicator declined for the fourth month running, probably negatively influenced by the local social protests.



24% of households country-wide deemed that they will be able to save more in the next 12 months compared to 20% in the previous month, while the proportion of households who considered there will be higher growth and improved employment rose to 31% in September from 27% in August. A greater proportion of respondents believe that the economy is currently growing, but that is it doing so at a softer pace than before, which is a reasonable opinion given the slowdown in growth signaled by July’s Economic Activity Indicator. Moreover, the number of respondents who perceive growth to have come to a halt declined from August. Furthermore, 63% of respondents expressed discontent with the government’s actions, down from August’ 68%, while the number of respondents with a positive opinion of the government’s pro-growth policies rose to almost a third of the respondents.

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%, which is unchanged from last month.


Author: Massimo Bassetti, Economist

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Peru Consumer Confidence September 2017

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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