Colombia: Consumer confidence deteriorates in February
The Fedesarrollo consumer confidence index dropped to a three-month low of minus 7.8 points in February, down from minus 5.4 points in January. The indicator has been entrenched below the zero-point threshold that separates optimism from pessimism among consumers for two years.
The deterioration in overall consumer sentiment reflected a broad-based decline in four out of the five sub-components of the index. There was a sharp downturn in consumers’ perceptions on their current personal economic situation compared to a year ago. Moreover, consumers held less favorable views over their personal financial situation over the next 12 months, although it remained in positive territory. Consumers were also more pessimistic about the country’s general economic situation over the same period, which stood entrenched in negative territory. On the other hand, consumers’ propensity to purchase big-ticket items improved somewhat, although continued to linger below the zero-point threshold.