Tuesday, September 1, 2009

Checking in on the Peruvian consumer

Here are two charts with stats taken from this INEI bulletin. They show how Peru's national sales tax receipts have been coming on recently in Peru. The first chart shows receipts in monetary terms, month over month, since 2007. The growth has been pretty impressive.

However this chart shows more clearly the recent weakness in the growth pattern, with last month the first time that sales tax receipts have shrunk on a YoY basis.

So what happens if a country announces an economic recovery and nobody shows up for the party?