Colombia: Consumer confidence jumps in January but is still seated in pessimistic territory
The Fedesarrollo consumer confidence index climbed to minus 5.4 points in January, up from minus 6.0 points in December, which marks the best result since November 2016. That said, the indicator remains below the zero-point threshold that separates optimism among consumers from pessimism, where it has been for two years.
January’s improved print was driven by consumers’ more favorable perceptions regarding their personal economic situation and general economic conditions in the next 12 months, along with a higher propensity to purchase big-ticket items. The upturn in these components made up for less favorable perceptions about the remaining sub-components of the index. Consumer sentiment on their current personal financial situation compared to a year ago reverted into negative territory, after entering optimistic terrain for the first time in two years. In addition, consumers’ perceptions regarding their future personal economic situation also worsened.