Colombia: Consumer confidence falls to lowest level in over a year
September 11, 2012
The Fedesarrollo index of consumer sentiment deteriorated in August, falling from 23.2 points in July to 18.1 points, which represents the lowest level seen in 15 months. As a result, consumer confidence is now 6.8 points below the level observed in the same month last year. The monthly drop in consumer sentiment reflected a deterioration in both components of the index. The consumer expectations sub-index fell from 28.0 points in July to 22.5 points in August, while the economic conditions sub-index reached 11.4 points, down from the 15.9 points recorded in the previous month. Nevertheless, at the current level, the consumer confidence index still remains well above the 0-point threshold that separates pessimism from optimism, which bodes well for private consumption going forward.