Colombia: Consumers turn less pessimistic in May
June 19, 2019
Consumer became less downbeat in May, with the Fedesarrollo consumer confidence index rising to minus 5.0 points from minus 9.6 points in April. The index, thus, moved closer to the critical zero-point threshold separating optimism from pessimism among consumers, signaling some improvement in overall sentiment in May, albeit still within pessimistic territory.
May’s reading reflected a broad-based upturn. Consumers held markedly more optimistic views on their personal finances over the next year and were less pessimistic about the general economic conditions over the same time frame. Moreover, households were more upbeat about their current financial situation compared to a year ago and showed greater willingness to purchase durable items. On the other hand, more respondents viewed bad economic times in the next 12 months.
Author: Nihad Ahmed, Economist