According to the Fedesarrollo Consumer Survey, the Consumer Confidence Index (ICC) in Colombia improved slightly for the second month in a row. In May it was -14.7 percent, which means an improvement of 2.8 percentage points over the previous month.
Consumer confidence increased compared to last month It was due to an increase of 3.9 points in the Consumer Expectations Index and 1.1 points in the Economic Conditions Index.”Fedesarrollo CEO explained, Luis Fernando Mejia.
In April, a very slight recovery was observed in this indicator, but the recovery was only 0.3 percent compared to March.
According to the agency, this improvement is in the fifth month of the year It responds to the change in consumer expectations which increased by 3.9 percentage points compared to the previous month. Within this component of Fedesarrollo’s survey, households who participated reported having better expectations overall.
for example Optimism about the situation of surveyed households has increased a year from now. This component rose from 13.1 percent to 16 percent compared to the previous month. This variable is also reflected in the perception of the economic situation of the country during a year.
thus, Consumer confidence increased at all social and economic levels compared to April 2022. Thus, the ICC increased 17.6 points per second in the higher classes; 1.5 points per second in the middle classes and 2.5 points per second in the lower classes.
In the result of the cities survey, consumer confidence increased in Bogotá (6.7 points per second), Cali (3.9 points per second) and Bucaramanga (0.6 points per second) compared to April 2022. But it decreased in Medellin (7.2 points per second) and Barranquilla (5.7 points per second). ). Three of five cities reported improvement rates for May compared to the fourth month of the year; In the case of Cali, the increase was 3.9 percentage points and finally Bucaramanga with an additional 0.6 percentage points.
“In May, the results of the index of willingness to buy a home classified by socioeconomic level showed an increase of 20.8 points per second in the upper class compared to the previous month. Meanwhile, the index decreased by 19.5 points per second in the middle class and 4.6 points per second in the lower class, Compared to what was observed in April 2022 ″Fedesarrollo explained.
However, the improvement was less visible in terms of economic conditions.Where it registered only 1.1 percentage points compared to the previous month. The survey pillar shows a balance of -31.5% in the fifth month, and in April it shows a balance of -32.6%.
What these results translate to is that families notice a slight improvement in their family situation compared to a year ago. It must be remembered that at this time in the year 2021 the country was going through a national strike that affected this indicator. However, one variant of this column from the survey showed a deterioration compared to the previous year.
One aspect that has deteriorated has been confidence in acquiring semi-durables such as home appliances, since then When asked if they think the time is right to buy items of this type, consumers deepened their mistrust, which reached -45.1 percent, when it was -41.7 percent in April.
Additionally, regarding the second quarter figures, Consumers’ assessment of the situation of households decreased by 3.1 percentage points, as well as of the current situation in the country.
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