According to Fedesarrollo, the Consumer Confidence Index (CCI) registered a balance of –14.7% in May, which represents 2.8 percentage points (pps) more compared to the previous month. Last April the indicator stood at -17.5%.
(See: 62.3% of households have less access to basic goods).
For the study center, the increase in consumer confidence was mainly explained by the 3.9 pps increase in the Consumer Expectations Index which went from -7.4%, in April, to -3.5%, in May.
For his part, the Index of Economic Conditions, another variable that is taken into account for the measurement, also increased 1.1 pps: it went to -31.5%, in May, from -32.6%, in the fourth month of the year.
In May, the ICC increased in all socioeconomic levels compared to the previous month, unlike what had happened during the previous months of the year.
(See: New technology, key to measuring audiences).
In turn, consumer confidence increased in three of the five cities surveyed compared to last month: Bogotá (6.7 pps), Cali (3.9 pps) and Bucaramanga (0.6 pps).
For its part, the ICC decreased compared to the previous month in Medellín (7.2 pps) and Barranquilla (5.7 pps).
Relative to April, the willingness to buy durable goods, housing and vehicles decreased.
(See: Consumers, a reactivation engine).
Fedesarrollo also points out that when comparing the results of the second quarter of 2022 to date with those of the first quarter, the consumer’s assessment of the country’s situation and the situation of their homes decreases, while there is an increase in the willingness of consumers to buy durable goods.
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