Colombia: Consumer confidence hits highest level so far this year in July
August 16, 2017
The Fedesarrollo Consumer Confidence Index (ICC) rose from minus 11.7 points in June to minus 9.5 points in July, the highest figure so far this year. The reading, however, still lies firmly below the 0-point threshold that separates pessimism from optimism among consumers.
The rise in consumer confidence in July resulted from an improvement in consumers’ expectations for future economic conditions and came about despite a deterioration in consumers’ perceptions of current economic conditions. Moreover, consumers’ willingness to buy housing and big-ticket durable goods also improved.
Author: Lindsey Ice, Economist