Sunday , May 22 2022

Consumer confidence even in adverse lands



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The deterioration in the expectations of the Colombian households in the coming year was the most important reason for the October Consumer Confidence Index (CCI) to re-enter the negative zone: -1.3%.

It is the second successive month in which the indicator measured by the Higher Education and Development Foundation (Fedesarrrollo) is negative: -0.7% in September. "This value means a decrease of 0.6 percentage points (pps) compared to the previous month and a 9.3 percentage point increase compared to the same month of 2017."

for José Roberto AcostaA member of the Tax Justice Network and a member of the Cesa professor, the measurements showed how serious the tax was to increase the rate of family basket products taxed with VAT. "There is concern that this tax reform is already beginning to create uncertainty, citizens."

Nevertheless, consumers' assessment of the situation of their homes has reversed the downward dynamics since the second quarter of 2018, showing an increase compared to last month.

According to measurements by Fedesarrollo, Medellín and Bogotá were the only cities where the ICC was negative: -1% and -5.3% respectively (see Radiography).

In the case of the capital of Antioquia, there is a significant change if the September report shows that consumer confidence is 5.7%.

Cali, Barranquilla and Bucaramanga (from the main cities) showed positive trends (8.3%, 2.9% and 11.3%, respectively). "In relation to October 2017, the confidence of consumers in all cities surveyed has increased the confidence", published the thought tank's report.

According to the socioeconomic level, the indicator is only negative for the environment: -6%. Low was 13% and 1.6% at high. Fedesarrollo stated that "consumer confidence improved compared to the same period in 2017, especially in high socioeconomic levels where the rate of increase is 18.2 points".

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