Colombia: Consumer sentiment soars to an over three-year high in June
The Fedesarrollo consumer confidence index jumped to 15.5 points in June from 8.9 points in May, moving further above the zero-point threshold separating optimism from pessimism among consumers. June’s print represents the best result in over three years.
The more upbeat sentiment in June was driven by an improvement in consumers’ expectations. Households were more optimistic about their current personal financial situation compared to last year and were also more confident about their financial prospects over the next year. Moreover, consumers’ assessment on the country’s economic performance in the next year improved markedly, as did their evaluation on the country’s future economic conditions within the next 12 months compared to current economic conditions. While consumers held less pessimistic views on their current personal economic situation, they showed greater reluctance to purchase big-ticket items.