Colombia: Pessimism among consumers worsens in August
September 9, 2021
The Fedesarrollo consumer confidence index halted its continued improvement in August and dropped to minus 8.2 from July’s minus 7.5. Consequently, the index moved further below the 0-point threshold, indicating pessimism among consumers.
August’s downtick was largely due to consumers’ views turning less optimistic regarding expectations over their financial situation in the coming 12-months, although sentiment improved over the country’s economic conditions a year from today. More positively, consumers were less pessimistic over their current situation compare to the past year. That said, households were more averse to large-ticket purchases in August.