Colombia: Consumer sentiment plummets in November
December 17, 2018
The Fedesarrollo consumer confidence index fell sharply in November, tumbling to minus 19.6 points from minus 1.3 points in October. November’s reading marked the lowest since March 2017; the index fell below the critical zero-point threshold separating optimism from pessimism among consumers in October, after remaining in positive territory for five consecutive months. The latest print reflected an across-the-board downturn in all sub-components of the index.
Consumers’ were significantly more downbeat regarding the economy’s prospects in the next 12 months and held less favorable views over their personal financial situation over the same time span. Households were also more pessimistic about their current economic situation compared to a year ago and expressed less willingness to purchase big-ticket items.
Colombia Private Consumption Forecast
LatinFocus Consensus Forecast participants expect private consumption to expand 3.2% in 2019, which is unchanged from last month’s forecast. For 2020, the panel also expects private consumption to increase 3.2%.
Author: Nihad Ahmed, Economist