Colombia: Consumer confidence drops sharply in February
March 12, 2013
The Fedesarrollo index of consumer sentiment deteriorated in February, falling to 14.9 points from 23.1 points in January. Although the index sits now at its lowest level seen since May 2011, it remains well above the 0-point threshold that separates pessimistic from optimistic territory. In addition, at the current level, consumer confidence remains 11.9 points below the level observed in the same month last year.
The monthly fall in consumer sentiment reflected a deterioration in both the present and forward-looking sub-categories that compose the index. In particular, the consumer expectations sub-index recorded the largest decline, falling from 27.4 points in January to 16.4 points in February. Meanwhile, economic conditions slid a milder 4.1 points and reached 12.6 points.
LatinFocus Consensus Forecast participants expect total consumption to expand 4.3% this year, which is unchanged from last month's forecast. For next year, the panel sees total consumption to rise 4.5%.