Colombia: Consumer confidence retreats in May
June 14, 2013
The Fedesarrollo index of consumer sentiment deteriorated in May, falling to 20.1 points from 23.7 points in April, which had marked the highest reading in five months. As a result, consumer confidence sits 6.4 points below the level seen in the same month last year, but still well above the 0-point threshold that separates pessimistic from optimistic territory.
The monthly decrease in consumer sentiment reflects a sharp deterioration in the consumption expectations sub-index, which declined from 29.7 in April to 23.7 points in May. On the other hand, economic conditions remained stable at April's 14.7 points.
LatinFocus Consensus Forecast participants expect total consumption to expand 4.2% this year, which is unchanged from last month's forecast. For next year, the panel sees total consumption to rise 4.5%.