Colombia: Consumer sentiment falls deeper into pessimistic territory in October
The Fedesarrollo consumer confidence index sunk deeper into negative territory in October, dropping to minus 1.3 points from minus 0.7 points in September. The index fell below the critical zero-point threshold separating optimism from pessimism among consumers in September, following five consecutive months of remaining in positive territory. October’s result reflected a downturn in three out of the five sub-components of the index, while the remaining two recorded an improvement.
Consumers were more pessimistic about the general economic situation over the next 12 months, while their views on the economic conditions over the same time frame swung into pessimistic territory in October. Moreover, respondents’ propensity to purchase big-ticket items worsened considerably, shifting from positive into negative territory. On the upside, consumers’ outlook on their own personal financial situation over the next year became more upbeat, and they were also less pessimistic about their current economic situation compared to a year ago.