Colombia: Consumer confidence hits in March its lowest level in nearly two years
April 9, 2013
The Fedesarrollo index of consumer sentiment deteriorated further in March, edging down to 14.8 points from 14.9 points in the previous month. As a result, the index sits now at its lowest level seen since May 2011, 9.6 points below the level observed in the same month last year. That said, consumer confidence remains well above the 0-point threshold that separates pessimistic from optimistic territory.
The monthly fall in consumer sentiment reflects a deterioration in the forward-looking indicator for consumption, which fell from 16.4 points in February to 14.9 points in March. On the other hand, economic conditions rose two full percentage points to 14.6 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 4.3%.