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Colombia Consumer Confidence March 2024

Colombia: Consumer sentiment deteriorates further in March

Consumer sentiment fell to a three-month low of minus 13.0 in March, deteriorating from February’s minus 9.4. As such, the index moved further below the 0-point threshold, indicating starker pessimism among consumers.

The downturn in the headline reading chiefly reflected consumers becoming more pessimistic regarding the country’s general economic situation in the coming year.

Sentiment remained deeply pessimistic in Q1, boding ill for private spending in the quarter and ahead. In Q1, inflation averaged below Q4 but remained above the Central Bank’s target, which will likely continue to dampen sentiment in the coming months.

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