Colombia: Consumer confidence deteriorates notably in January
February 8, 2021
The Fedesarrollo consumer confidence index deteriorated significantly in January coming in at minus 20.8, down from December’s minus 10.4 and putting an end to an eight-month streak of improving sentiment. As a result, the index dived further below the 0-point threshold, indicating increased pessimism among consumers.
January’s lower reading was largely attributed to worsening consumer sentiment over their personal financial situation compared to a year ago. Moreover, households turned more pessimistic towards making big-ticket purchases and their expectations of economic conditions in the year ahead deteriorated markedly. Lastly, consumers grew less confident with regards to their personal financial situation in the twelve coming months.