Colombia: Consumer confidence improves in January
Consumers turned notably less pessimistic in January, with the Fedesarrollo consumer confidence index rising to minus 1.2 from minus 9.5 in December and marking the best reading since March 2019. The index thus moved closer to the critical zero-threshold separating pessimism and optimism among consumers in January.
January’s improvement was largely driven by a marked improvement in households’ outlook over their personal finances in the year ahead and their appraisal of their current financial situation compared to their situation a year earlier. Meanwhile, consumers’ assessment of general economic conditions in the coming 12 months turned less pessimistic, as did their current willingness to purchase big-ticket items.