Colombia: Consumers turn optimistic for the first time in six months
April 17, 2019
The Fedesarrollo consumer confidence index rebounded after remaining in negative territory for six consecutive months; it rose to 1.2 points in March from minus 5.6 points in February. The index, thus, moved above the critical zero-point threshold separating optimism from pessimism among consumers, signaling an improvement in overall consumer sentiment in March.
March’s reading reflected an upturn in all sub-components. Consumers were more upbeat about their personal finances over the next year compared to now and were also less pessimistic regarding the general economic conditions over the same time frame. Moreover, households held more favorable views over their current personal financial situation relative to a year ago and were also optimistic about purchasing big-ticket items after being pessimistic on this front in February.
Author: Nihad Ahmed, Economist