Colombia: Consumer confidence improves notably in January
Latest reading: The consumer confidence index improved to minus 1.1 in January, up notably from December’s minus 3.4. January’s reading was the strongest since June 2022, but the index remained below the 0-point threshold, indicating pessimism among consumers. Looking at the details of the release, optimism regarding the country’s future economic situation rose, and consumers became less pessimistic about the country’s current economic situation.
Outlook: Consumer sentiment improved notably from Q4’s average in January, hinting at recovering private spending. Still, sticky inflation and a still loose labor market will likely continue to depress sentiment and households’ propensity to consume at the outset of 2025.