Colombia: Consumer confidence surges in June
July 15, 2011
The Fedesarrollo index of consumer sentiment outperformed in June and jumped from 10.1 points in May to 27.6 points, which represents the highest reading since November 2010. The increase was broad-based and reflected a more optimistic assessment of households' economic situation, with the respective sub-index climbing by 18.2 points to 20.6 points in June. Similarly, the consumer expectations sub-index rose by 17.0 points to settle at 32.3 points in June. As a result, the consumer confidence index rose higher above the 0-point threshold that separates pessimism from optimism. According to Fedesarrollo, the correlation between the consumer sentiment index and household consumption from March 2006 up to June was 0.89.