Colombia: Consumer confidence falls to lowest level in eight months
July 11, 2012
The Fedesarrollo index of consumer sentiment deteriorated in June, falling from 26.5 points in May to 20.6 points, the lowest level observed in eight months. As a result, consumer confidence is now 7.0 points below the level observed in the same month last year. The monthly result mainly reflected a sharp decline in the consumer expectations sub-index, which dropped from 34.1 points in May to 25.1 points in June. In addition, the economic conditions sub-index also deteriorated, falling from 15.1 points in May to 13.8 points. Despite the deterioration, at the current level, the consumer confidence index remains well above the 0-point threshold that separates pessimism from optimism, which bodes well for private consumption going forward.