Colombia: Consumers become more pessimistic in June
Consumers turned more pessimistic in June, with the Fedesarrollo consumer confidence index falling to minus 6.3 points from minus 5.0 points in May. The index, thus, moved further below the critical zero-point threshold separating optimism from pessimism among consumers, signaling a deterioration in sentiment.
June’s more downbeat reading reflected households’ increased pessimism regarding their current personal finances relative to a year ago and their views on the general economic conditions worsening within the next 12 months compared to how they currently are. Moreover, consumers showed slightly less willingness to purchase big-ticket, durable items. On the other hand, respondents were less pessimistic about the prospect of bad economic times within the next 12 months, while their outlook on their personal financial situation in the year ahead remained steady in optimistic territory.