Colombia: Consumer confidence inches up in December
January 12, 2014
The Fedesarrollo consumer sentiment index inched up from 23.1 points in November to 23.2 in December, which marked the highest reading since July 2013. The index is still well above the 0-point threshold that separates optimistic from pessimistic territory.
The monthly improvement reflects an increase in consumer expectations, as households were more optimistic regarding the economy's performance for the next 12 months. Conversely, consumers' views on current economic conditions deteriorated in December due to increasing pessimism regarding their ability to purchase big-ticket items.
LatinFocus Consensus Forecast participants expect total consumption to expand 4.5% in 2014, which is up 0.1 percentage points from last month's forecast. For 2015, the panel expects total consumption to increase 4.6%.