Searcher

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.

Documents to download

Geographies

Has this information been useful?

New comment

Be the first one to add a comment.

Load more

You may also be interested in