Colombia | BBVA Big Data Consumption Tracker

Summary

In August, consumption growth stabilized at levels similar to those observed in July, although below those of previous months. There was a weaker performance of goods consumption and a reduction in credit card spending. By city, Bogota maintained the best dynamics among the main cities.

Key points

• Key points:
• In August, consumption growth stabilized at levels similar to those observed in July, although below those of previous months. Within the domestic market, consumption of goods performed worse, significantly reducing its growth, while spending on services regained momentum. There has been a daily trend of moderation in spending since June, but the end of August helped to offset its deterioration.
• By category, spending in drugstores, airlines and health rebounded in the month. While hotels, apparel, department stores and restaurants showed a slowdown in spending.
• Credit card spending decreased during the month and was offset by higher debit card spending. On-line purchases decreased during the month.
• At the city level, there was a generalized moderation in spending dynamics, although Bogota maintained its momentum. Among the cities with the slowest growth were Cali and Pereira, which are also the cities where consumption slowed the most.
• At the level of some of the main types of spending by city, spending at service stations remained relatively stable at the national level and presented a more even behavior at the city level, although some cities moderated their dynamics. On the other hand, spending in restaurants, although still high, showed a significant moderation in all cities.

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