Colombia Consumer Confidence October 2016

Colombia

Colombia: Consumers become even more pessimistic

November 18, 2016

The Fedesarrollo consumer sentiment index dropped from September’s minus 2.1 points to minus 3.2 points in October. The index is now further below the 0-point threshold that separates optimistic from pessimistic territory. Confidence first sank into pessimistic territory in January, when it fell by over 20 points as consumers became very concerned about Colombia’s present and expected future economic conditions.

October marked the tenth consecutive month that the index has been in negative territory, though it had been recovering steadily since then until this month’s setback. The print mainly reflected a deterioration in households’ expectations of future economic conditions. Although households’ perceptions of current economic conditions actually improved in October, this could not prevent this month’s overall decrease.

LatinFocus Consensus Forecast participants expect total consumption to expand 2.4% in 2016, which is down 0.2 percentage points from last month’s forecast. For 2017, the panel expects total consumption to increase 2.2%.


Author:, Economist

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Colombia Consumer Confidence October 2016 0

Note: Index of consumer sentiment. Values above 0 indicate optimistic perception, below 0 indicate negative perception.
Source: Fedesarrollo.


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