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Published on Thursday, August 4, 2022

Colombia | BBVA Big Data Consumption Tracker. August 2022.

In July, household consumption continued its deceleration process, which was generalized to all cities and types of spending. The greater moderation in the purchase of goods compared to services stood out, although the latter also presented lower growth compared to the previous year.

Key points

  • Key points:
  • In July, consumption growth continued to moderate, this time more noticeably. This was due to a significant slowdown in spending on goods, although services also declined during the month. The seasonal pattern of accelerating spending throughout the month continued, but with a deeper trough in the first part of the month and a more moderate rebound in the second part.
  • By category, there was a significant rebound in spending on transportation and drugstores. Most of the items presented a relatively lateral behavior, but there was a moderation in spending on entertainment and department stores and a rebound in transportation and fuels.
  • There was stability in credit card spending and an increase in the use of debit cards and cash withdrawals. Online purchases did not show any particular behavior.
  • At the city level, there was a generalized moderation generalized moderation, although Barranquilla, Bucaramanga Bucaramanga and Bogota maintained high growth rates. Spending on fuels fuels showed a relative improvement compared to 2019 in all cities, while all cities, while gains were mixed in apparel. gains were mixed in apparel.
  • Spending in restaurants remained dynamic in July, with strong in July, with strong performance relative to relative to 2019 in all cities and with an important growth rate in cities such as Bucaramanga, Barranquilla such as Bucaramanga, Barranquilla and Bogota.

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