Colombia: Consumer confidence rebounds strongly in April
May 14, 2013
The Fedesarrollo index of consumer sentiment improved markedly in April, jumping to 23.7 points from 14.8 points in March, which had marked the lowest level since May 2011. The April result marked the highest reading in five months and contrasted market expectations, which had the index falling to 14.5 points. Despite the strong rise, consumer confidence sits 2.9 points below the level seen in the same month last year, but well above the 0-point threshold that separates pessimistic from optimistic territory.
The monthly increase in consumer sentiment reflects an improvement in the consumption expectations sub-index, which rose from 14.9 points in March to 29.7 points in April. On the other hand, economic conditions rose only 0.1 percentage points to 14.7 points.
LatinFocus Consensus Forecast participants expect total consumption to expand 4.3% this year, which is unchanged from last month's forecast. For next year, the panel sees total consumption to rise 4.5%.