Colombia: Consumer confidence hits highest level in over one year in June
July 11, 2013
The Fedesarrollo index of consumer sentiment improved markedly in June, rising from 20.1 points in May to 27.4 points, which represents the highest reading witnessed since January 2012. As a result, consumer confidence sits 6.8 points above the level seen in the same month last year and it moves further away from the 0-point threshold that separates pessimistic from optimistic territory.
The monthly improvement in consumer sentiment mainly reflects a strong rise in the economic conditions sub-index, which soared from 14.7 in May to 25.2 points in June. In addition, consumption expectations also recorded a substantial expansion, increasing from 23.7 points in May to 28.8 points in June.
LatinFocus Consensus Forecast participants expect total consumption to expand 4.1% this year, which is down 0.2 percentage points from last month's forecast. For next year, the panel sees total consumption to rise 4.5%