Private consumption latest publications
General consumption rebounded and reached a real average growth of 10% YoY in the last week. All categories showed progress, with different values. The predictive power of our consumption indicators for economic activity and supermarket purchases is once again confirmed.
The third day without VAT that we had in the country had a significant positive effect on private consumption, in addition the data gives a break to trade due to its dynamism after a drought of good news in times of pandemic.
General consumption remained flat in the first half of November, with an upturn in spending helped by the recovery in tourism. On the contrary, categories that had been outlining a progressive improvement surprisingly showed a break.
After the momentum achieved at the end of October, consumption remained flat during the first days of November and is now returning to pre-pandemic levels. Inflation made its way and advanced more quickly than general mobility. ATM cash withdrawals in real terms continue their upward trend.
In the first days of November, consumption maintains an upward trend driven by the consumption of basic goods, mainly health and food. The behavior among cities is again mixed as a result of differentiated measures adopted based on the increase of new cases in some regions.
After the significant drop recorded in the previous measurement, consumption with cards recovered the levels of the first half of October. Most of the main categories improved their performance.
Consumption in Colombia had its maximum fall in April, since then it has gradually recovered with some ups and downs due to new strict quarantines implemented in some cities. Household consumption patterns have changed and a return to normality will depend on the recovery of the labor market.
Consumption continued to contract in the second half of October. The official data on purchases in supermarkets confirms the shrinkage in spending captured by our real-time indicator.