Colombia: Consumer confidence improves notably in December
Latest reading: The consumer confidence index improved to an over two-year high of minus 3.4 in December, up notably from November’s minus 5.7. That said, the index remained below the 0-point threshold, indicating pessimism among consumers. Looking at the details of the release, renewed optimism regarding the country’s future economic situation outweighed deeper consumer pessimism regarding the country’s current economic situation.
Outlook: Consumer sentiment improved notably from Q3’s average in Q4, hinting at recovering private spending. Moreover, inflation came in below Q3 levels in Q4, and this, paired with a recent decline in the unemployment rate, will likely support sentiment and households’ propensity to consume into 2025.