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FocusEconomics: Peru's consumer confidence surges in February

09:08 | Lima, Mar. 14.

Peru's consumer confidence indicator —published by GfK— jumped to 104 in February from 93 in January 2019, marking the best result in over two years, the latest FocusEconomics' LatinFocus Consensus Forecast report highlighted.

Therefore, the index moved above the critical 100-point threshold that separates pessimism from optimism among Peruvian consumers for the first time since October 2017.

The reading reflected significant improvements in both consumers' expectations over their personal financial situation in the next 12 months and their expectations on the economy over the same time horizon. 

"Moreover, the indicator also registered an increase in the number of respondents who think it's a good time to buy household appliances," it expressed. 

Panelists expect private consumption to rise 3.9% in 2019, which is unchanged from last month's forecast. For 2020, panel participants see consumer spending growing 3.8%.

Editor's note: Information provided by FocusEconomics.

(END) NDP/DTK/MVB

Published: 3/14/2019
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