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Colombia Consumer Confidence May 2024

Colombia: Consumer confidence eases in May

Consumer confidence came in at minus 14.1 in May, down from April’s minus 11.4. May’s result marked the worst performance since December 2023. As a result, the index remained entrenched below the 0-point threshold, indicating pessimism among consumers. The downturn reflected consumers becoming more pessimistic regarding the country’s general economic situation in both the current and coming year.

Sentiment remained deeply pessimistic in April–May, suggesting that private spending remained muted in Q2. In May, inflation proved sticky and continued to outpace the Central Bank’s target of 3.0%. This, coupled with a still-high unemployment rate, likely dampened sentiment during the remainder of the quarter.

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