Colombia Consumer Confidence October 2021

Colombia

Colombia: Consumer confidence hits highest reading since January 2020 in October; remains in negative territory

November 8, 2021

The Fedesarrollo consumer confidence came in at minus 1.3 in October, improving from September's minus 3.0. October's result marked the strongest sentiment since January 2020. Despite the uptick, the index still lies below the 0-point threshold, and indicated pessimism among consumers.

October’s improvement was largely due to consumers turning markedly less averse to large-ticket purchases compared to the prior month, and they also became less pessimistic over their situation compared to a year ago. That said, consumers’ optimism over the next 12-month period waned somewhat in October.

LatinFocus Consensus Forecast participants see private consumption expanding 10.5% in 2022, which is up 0.7 percentage points from last month’s forecast. In 2023, private consumption growth is seen at 3.7%.


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Colombia Consumer Confidence October 2021 0

Note: Index of consumer sentiment. Values above 0 indicate optimistic perception, below 0 indicate negative perception.
Source: Fedesarollo.


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