Peru Business Confidence Hits 15-Year High, Gestión Reports

Peru’s new government inherits an unusually upbeat business mood, with mining investment up 42.7% in the first half of 2026.

Peru business confidence has reached its highest level in about 15 years, according to the Lima business daily Gestión. The paper reported on 20 August 2026 that confidence to invest is at a 15-year peak. It expects private investment to grow 10% or more this year.

What Gestión Reported

Gestión is a business newspaper in Lima that has covered Peru’s economy for decades. On 20 August 2026 it reported that confidence to invest had reached a 15-year high.

The paper said this month’s results consolidated a strong July. As a result, it expects private investment to grow 10% or more in 2026.

Gestión tied that to the creation of formal jobs in the months ahead. In short, the mood inside Peruvian companies is unusually good.

The Survey Behind the Number

The reading comes from SAE, the business advisory service of Apoyo Consultoría. Apoyo is a long-established Lima consulting firm that polls its member companies.

The survey asks executives at more than 300 member firms how confident they feel about investing. The question looks six months ahead, so it measures intent rather than money already spent.

In July the index stood at 48 points, its best level since 2012. Because August held that gain, Gestión described the level as the highest in about 15 years.

What the Central Bank Survey Shows

Peru’s central bank is the Banco Central de Reserva del Perú, usually shortened to BCRP. It runs its own monthly poll of company managers.

In that survey, any score above 50 points means firms are more optimistic than pessimistic. The July results, published in early August, sat well above that line.

Expectations for the economy three months ahead rose from 55.5 to 62.3 points. The twelve-month reading climbed from 68.6 to 72.1 points.

Company investment plans improved too. The three-month measure went from 57.5 to 59.2 points, while the twelve-month measure edged up from 67.2 to 67.3.

Gestión reported on 14 August 2026 that the BCRP called the twelve-month view of the economy its best since 2017.

Different Surveys Measure Different Things

Peru has more than one gauge of business mood, and they are not built the same way. That is why their record dates differ.

Apoyo Consultoría asks about willingness to invest over the next six months. The BCRP asks about the economy and about company investment at three and twelve months.

So one series can reach back to 2012 while another compares with 2017. Both point the same way, even though the yardsticks differ.

Scotiabank’s economists read the same July central bank survey. On 7 August 2026 they put three-month expectations at their highest since November 2017.

Why Peru Business Confidence Is Rising Now

Peru business confidence has two clear drivers this year. The first is political, and the second is copper.

A new government took office on 28 July 2026. Keiko Fujimori of Fuerza Popular won the 7 June runoff and was sworn in that day.

Surveys often lift after a handover, because managers wait to see the new team’s plans. Both the July and August readings were taken around that change.

Mining is the other reason. Peru is a leading copper producer, so mining sets the tone for suppliers, builders and service firms.

Mining Money Is Already Moving

Mining investment reached US$3.304 billion between January and June 2026. That is 42.7% more than the US$2.315 billion spent a year earlier.

The figures come from Peru’s Ministry of Energy and Mines, known as MINEM. State news agency Andina published them on 13 August 2026.

Private investment across the whole economy grew 10.0% in 2025, according to the central bank. So this year’s confidence readings sit on top of real spending.

Mining also pulls in construction, transport and engineering work. That spread is why the sector moves the national mood.

Peru’s largest financial group, Credicorp, made a similar point on 14 August 2026. Chief executive Gianfranco Ferrari said business confidence was at record levels and private investment was growing at double digits.

Four Things Gestión Says Could Change It

Gestión set out four conditions for keeping the momentum going. The first is holding early political capital and acting fast on El Niño and crime.

The second is managing relations with Congress. The third is repairing a public administration that has been losing capacity.

The fourth is winning political support in the regions, especially in the south. That matters because mining disputes often start there.

What a Confidence Number Does and Does Not Tell You

A confidence index records intentions and opinions, not bank transfers. It tells you what managers expect, so it usually moves before spending does.

Turning optimism into new plants or mines takes quarters rather than weeks. For that reason, analysts watch whether later spending confirms the mood.

Useful companions are private investment as a share of GDP, mining capital spending and building permits. Those track behaviour instead of sentiment.

For a newcomer, the index works as a temperature check rather than a promise. It says the room is warm, not who will sign a cheque.

What to Watch Next

The BCRP publishes its expectations survey every month, so the next reading lands in early September. It will show whether the August level held.

Prices are the other thing to follow. The bank kept its key interest rate at 4.25% on 14 August 2026, while twelve-month inflation expectations rose to 3.0%.

That is the top of the bank’s target range. Still, the direction of business sentiment is clearly upward for now.

More: Peru news in English, every day from The Rio Times.

Sources: Gestión; Apoyo Consultoría (SAE); BCRP; Andina; Infobae; Scotiabank Economics

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