Colombia | Weekly update BBVA Tracker: Consumption. 3 Jun, 2021

Consumption in May grew 7.1% compared to 2019 driven by goods which stood at 25.4% while services at -19%. Consumption rebounded in the last days of May, with greater strength in the services group that recovered the level of February-March of this year but did not offset the sharp declines at the beginning of the month.

Key points

• Key points:
• Drugstore spending is 41% above pre-pandemic levels, reaching a peak since the beginning of the pandemic, as are new Covid-19 cases in the country.
• Airline spending remains on an upward trend reaching highs since Feb-20, possibly driven by vaccination tourism.
• Clothing spending recovers in the last days of May but does not compensate for the drop in the first part of the year, which puts it 16% below the 2019 level.
• In May, at the level of the main cities, consumption only slowed down in Bucaramanga compared to April. In Cartagena, consumption remained stable.

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