Peru: Business confidence stabilises in November
December 10, 2011
In November, the Central Bank's business confidence indicator (indice de Confianza Empresarial) remained stable at October's 58 points. The reading maintained confidence at the highest level since March and the index sits well above the 50-point threshold that separates optimism from pessimism. The November result suggested that a majority of businesses were optimistic about future economic prospects for the next three months. The November survey showed that firms' sales expectations for the next three months remained virtually unchanged, with its sub-indicator inching down from 58 points in October to 57 points in November. Moreover, businesses continue to enjoy a favourable financial situation with easy access to credit. The sub-indicator businesses' financial situation rose from 60 points in October to 62 in November. On the other hand, the November result showed that less firms are planning to take on new staff in the next three months.
Author: Ricardo Aceves, Senior Economist