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Colombia Consumer Confidence April 2024

Colombia: Consumer confidence picks up but remains deeply pessimistic in April

Consumer confidence rose to minus 11.4 in April from March’s minus 13.0. That said, the index remained entrenched below the 0-point threshold, indicating that consumers were still pessimistic. The upturn chiefly reflected consumers becoming less pessimistic regarding the country’s general economic situation in the coming year, which outweighed heightened pessimism regarding its current situation.

Sentiment remained deeply pessimistic in April, hinting at muted private spending at the start of Q2. Inflation continued to outpace the Central Bank’s target of 3.0% in April, and this, paired with a still-high unemployment rate, will likely continue to dampen sentiment during the remainder of the quarter.

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