Consumer confidence in Colombia, August 2022

Consumer confidence jumped to minus 2.4 in August from minus 10.4 in July. Despite the rise, the index remained below the zero point threshold, which indicates pessimism among consumers.

The rise came on the back of improved consumer assessments of their economic situation and the country’s general economic situation in the next twelve months.

Participants in the LatinFocus Consensus forecast see private consumption expanding 6.9% in 2022, 0.4 percentage point higher than last month’s forecast. In 2023, private consumption growth is expected to be 2.1%.

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