attractive landscape in Colombia

Colombia Consumer Confidence July 2024

Colombia: Consumer confidence rises to six-month high in July

Consumer confidence came in at minus 9.0 in July, up from June’s minus 12.7, marking the strongest sentiment since January. That said, the index remained entrenched below the 0-point threshold, indicating pessimism among consumers. Consumers became less pessimistic regarding both the country’s current and future economic situation.

Pessimism softened sharply in July compared to Q2, hinting at recovering private spending. That said, inflation remained more than double the Central Bank’s 3.0% target in July, and this, paired with a high unemployment rate, will likely continue to dampen sentiment and limit households’ propensity to consume in Q3.

Scotiabank Colpatria analysts commented:

“Consumer confidence has maintained a good dynamic in recent months, showing that the macroeconomic adjustment would contribute to a better perception of households regarding their economic conditions, while better prices and more favorable rates contribute to a greater willingness to buy. In the future, this dynamic could continue to contribute to easing the financial burden of households and supporting a gradual reactivation of the domestic demand.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Download Fullscreen