Colombia: Consumer confidence deteriorates in February

The Fedesarrollo consumer confidence index deteriorated in February, falling to minus 5.6 points from minus 2.8 points in January. Thus, the index moved further below the critical zero-point threshold separating optimism from pessimism among consumers, remaining entrenched in pessimistic territory.

All but one of the sub-components registered a decline. Consumers were more pessimistic about the current economic conditions and their personal finances compared to a year ago. They also held less favorable views over the economy’s prospects over the next 12 months and were less optimistic about their personal financial situation over the same period. Consumers’ propensity to purchase big-ticket items was the only category that saw an improvement.

Colombia Private Consumption Forecast

LatinFocus Consensus Forecast participants expect private consumption to expand 3.3% in 2019, which is up 0.1 percentage points from last month’s forecast. For 2020, the panel also expects private consumption to increase 3.3%.