Colombia: Consumer confidence improves for sixth consecutive month in October

The Fedesarrollo consumer confidence improved for the sixth month running in October, coming in at minus 18.6, above September´s minus 21.6. That said, the index remained below the 0-point threshold and still indicated pessimism among consumers.

October´s improvement was driven by less pessimism among households over their current financial situation compared to a year ago and towards purchasing big-ticket household items. That said, consumers turned less optimistic with regards to their personal financial situation in the twelve coming months.

LatinFocus Consensus Forecast participants see private consumption expanding 5.1% in 2021, which is up 0.1 percentage points from last month’s forecast. Next year, private consumption growth is seen at 4.0%.