In May 2023, the Consumer Confidence Index (ICC) reached a
balance of -22.8%.
In the opinion of the study center, this improvement is mainly due to an increase of 3.8 pps in the Consumer Expectations Index and an increase of 9.5 pps in the Economic Conditions Index.
When comparing the results of the second quarter (to May) of 2023 with those of the first quarter, an increase of 2.0 pps is observed in the assessment of consumers regarding the situation of their homes and their country. In addition, the willingness of consumers to buy durable goods stood at -48.6% during the second quarter, which represents an increase of 8.0 pps compared to the balance registered in the first quarter of 2023.
By cities, consumer confidence increased in Bogotá, Cali,
Barranquilla and Bucaramanga, while it decreased in Medellín.
Regarding the strata, an increase in confidence was observed in the medium and low socioeconomic level, while it decreased in the high stratum. On the other hand, the willingness to buy a home, vehicle and personal property and household appliances increased with respect to the month of April.
