Colombia: Consumer confidence drops in May
June 14, 2011
The Fedesarrollo index of consumer sentiment plunged from 11.9 points in April to 10.1 points in May, the lowest level since January 2010. The decrease was broad-based and reflected a more pessimistic assessment of households' economic situation, with the respective sub-index falling by 2.9 points to 2.4 points in May. Similarly, the consumer expectations sub-index declined by 1.0 points and settled at 15.3 points in May. As a result, the consumer confidence index moved closer to the 0-point threshold that separates pessimism from optimism. According to Fedesarrollo, the correlation between the consumer sentiment index and household consumption is 0.6.