Peru’s Business Confidence Increases To 12-Month High

by Andean Air Mail & Peruvian Times

Business confidence in Peru reached its highest level in 12 months, daily Gestion reported, citing the Central Bank’s latest survey on macroeconomic expectations.

Sixty percent of respondents said they are optimistic about the economy, compared to 57 percent in January and 56 percent in December.

The survey found that 61 percent of businesses expect sales to increase this year, up from 58 percent in January and 57 percent in December.

The survey also found that 64 percent of companies see demand increasing, up from 61 percent in January and 57 percent in December.

The consumer confidence index in February also rose, up to 61 from 59 in January. However, it is still down from December, when the index reached 68.

Economy and Finance Minister Luis Miguel Castilla said recently that Peru’s economy will expand by 5.7 percent this year, from a previous estimate of 5.4 percent. In 2011, Peru’s gross domestic product increased by 6.92 percent, compared to 8.8 percent in 2010.

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