Published on Wednesday, August 26, 2020

Colombia | Weekly update BBVA Tracker: Consumption. 26 August, 2020.

In the last week, consumption remained stable in falls close to 20% y/y, with a greater deterioration in the case of services than goods. At the regional level there were mixed results; in Bogota consumption deteriorated while in Medellin there was a rebound due to the end of the quarantine on weekends.

Key points

  • Key points:
  • During August (1 to 24), the consumption of goods falls 1.0% while that of services falls 46% compared to what was observed during the same period a year ago.
  • Credit card spending is stabilized at about a 30% y/y drop. Cash withdrawals fall 20% per year over the current month.
  • Consumption in Cartagena, as a tourist city, has been more affected and has stabilized at lower levels than in other cities.
  • Spending on clothing in Cartagena and Bucaramanga had an upward trend. In Medellin, spending on clothing recovered by about 25pp after the end of the quarantine on weekends.
  • In Bogotá, with the fourth stage of the sectorized quarantine, consumption in the city is again deteriorating, especially in the clothing and fuel sectors.

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