ANDl Consumer Confidence Index (CCI) June showed recovery and was in positive territory with 2.9%, which has not been seen since March 2019.
According to the report delivered yesterday by Fedesarrollo, this result represents an increase of 17.6 percentage points (pps) compared to the previous month.
(See: US Consumer Confidence Up in March.)
Luis Fernando Mejía, director of that study center, explained that the increase in consumer confidence compared to last month was due to an increase of 21.0 pps in the Consumer Expectations Index.
In June 2022 was at 2.9%while in May of this year it was -14.7% and in the sixth month of 2021 it was -22.3%.
Mejía also pointed to an improvement of 12.5 pps in the Economic Conditions Index.
For the past month it was -19.0%, while in the previous month it was -31.5%. For its part, in June 2021 it was -48.8%.
When analyzing the result of this report, Bancolombia’s Directorate of Economic, Sectoral and Market Research said that the result is based on a favorable context for Colombian families and a more favorable monthly economic environment.
However, he commented that from now on “the challenging external and internal financial conditions could lead to a return of the indicator to negative territory.”
(See: 62.3% of households have less access to basic goods).
IN THE QUARTER
When comparing the results of the second quarter of 2022 to date with the results of the period between January and March of this year, the Consumer Confidence Index remains in negative territory with 9.8. However, it advances when compared to the record for the first quarter of the this year when it was -16.3,
Consumers’ assessment of the situation of their homes increased by 2.5 pps. In the immediately previous quarter it was at 0.1, which also shows progress. Meanwhile, the assessment of the country’s situation it increased by 4.6 pps, going from -24.7 to -20.1 between quarter and quarter.
For its part, the willingness of consumers to buy durable goods in April stood at -41.2%, a result that represents an increase of 6.6 pps relative to the balance recorded in the first quarter of 2022 when the record was – 47.8%.
(See: New technology, key to measuring audiences).
CITIES AND STRATUM
Compared to May, consumer confidence increased in the medium and low socioeconomic levels, while it fell for the high level. At the high level, it went from -3.7 in the fifth month of the year to -4.5 in June. In the average level there is a change since it went from -15.3 to 9.2 between one month and another, according to the Fedesarrollo report. For the low level, there is also improvement, although it remains in negative territory: from -15.1 to -2.5.
Regarding the cities, the evolution of the indicator was favorable in Bucaramanga with 16.2, while in May it reached -14.7, an increase of 23.4 pps.
The increase of 23.7 pps in Barranquilla from -20.3 in May to 7.0 in June was also significant,
In Bogota too advanced from -12.8 to 3.1which represents 15.9 pps more.
Cali also had an improvement of 11.5 pps in the ICC, going from -11.1 in May 2022 to 0.4 in June.
(See: Business Confidence Retained High Levels in May).
Although Medellín is still negative with -0.9, the Consumer Confidence Index shows a good performance with an increase of 221.1 pps, since in the month precedent was at -23.0.
The results of the indicator of willingness to buy a house by socioeconomic level in June showed a decrease of 12.2 pps in the high stratum (-26.4) compared to the previous month. It increased 15.1 pps in the middle (-16.3), and 17.1 pps in the low stratum (-18.2). Lastly, the willingness to buy personal property and household appliances increased 8.3 pps compared to the previous month. While in May it was -45.1, in June it reached -36.8.
BRIEFCASE
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