Peru: Businesses turn pessimistic in August
September 13, 2013
Businesses confidence deteriorated in August according to the Central Bank's business confidence indicator, which fell to 48 points (July: 50 points). The index is now at its lowest point since June 2011 and sits below the 50-point threshold separating pessimism from optimism.
The August survey showed that the majority of businesses were more pessimistic about their economic prospects for the next three months. Moreover, firms' sales expectations for the next three months remained unchanged over the previous month. On a positive note, businesses continue to feel confident about their financial situations.
FocusEconomics Consensus Forecast panelists expect fixed investment to grow 9.5% this year, which is down 0.2 percentage points from last month's forecast. For 2014, panel participants see investment growing 8.7%.
Author: Ricardo Aceves, Senior Economist