Colombia Consumer Confidence August 2021

Colombia

Colombia: Pessimism among consumers worsens in August

September 9, 2021

The Fedesarrollo consumer confidence index halted its continued improvement in August and dropped to minus 8.2 from July’s minus 7.5. Consequently, the index moved further below the 0-point threshold, indicating pessimism among consumers.

August’s downtick was largely due to consumers’ views turning less optimistic regarding expectations over their financial situation in the coming 12-months, although sentiment improved over the country’s economic conditions a year from today. More positively, consumers were less pessimistic over their current situation compare to the past year. That said, households were more averse to large-ticket purchases in August.

LatinFocus Consensus Forecast participants see private consumption expanding 6.9% in 2021, which is up 0.4 percentage points from last month’s forecast. In 2022, private consumption growth is seen at 3.4%.


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Colombia Consumer Confidence August 2021

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


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