Colombia: Consumer sentiment deteriorates in July from June’s over-three-year high
The Fedesarrollo consumer confidence index came down to 9.8 points in July from June’s over-three-year high of 15.5 points, moving closer to the zero-point threshold separating optimism from pessimism among consumers.
The fall in the index was underpinned by a drop in every component. Respondents perceptions over the state of the economy in the next 12 months was much more downbeat than in the previous month. Their optimism over country’s economic conditions also waned from a month ago. Moreover, households were slightly less optimistic about their economic prospects over the next year. Consumers’ assessment on their current personal financial situation compared to a year ago was more negative in July compared to June. In addition, respondents had a lower propensity to purchase big-ticket items.