Colombia Consumer Confidence September 2021

Colombia

Colombia: Sentiment hits over one-year high in September, but remains in pessimistic territory

October 7, 2021

The Fedesarrollo consumer confidence index came in at minus 3.0 in September, improving from minus 8.2 in August, logging the highest reading since January 2020. That said, the index remained marginally below the 0-point threshold, indicating pessimism among consumers.

September’s improvement was largely attributed to consumers’ views turning more optimistic regarding expectations over their financial situation in the coming 12-months. Moreover, confidence regarding the country’s economic conditions a year from today firmed while households turned less pessimistic over big-ticker purchases in September.

Economists at Scotiabank Colpatria said:

“Overall, September’s consumer confidence strengthened as Colombia is consolidating a strong reopening. It appears consumers are more optimistic about the future and the assessment of current conditions is improving at a slower pace. That said, we expect that as the labour market consolidates, further gains and main cities continued allowing traditional services to operate, the sentiment would continue improving and translating into better consumption numbers.”

LatinFocus Consensus Forecast participants see private consumption expanding 9.6% in 2021, which is up 1.2 percentage points from last month’s forecast. In 2022, private consumption growth is seen at 3.6%.


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Colombia Consumer Confidence September 2021 0

Note: Index of consumer sentiment. Values above 0 indicate optimistic perception, below 0 indicate negative perception.
Source: Fedesarollo.


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