Colombia | Third day without VAT gives oxigen to trade

Summary

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.

Key points

• Key points:
• Positive effect on private consumption
• The growth of the consumption of goods and services was 13.7% YoY (first 23 days of November)
• The third day without VAT had higher sales than the previous ones
• The consumption of the third day without VAT compared to the previous one grew 56% and 270% with respect to the average sales of the month of October 2020.
• A moderate outlook in consumption for the last quarter due to a possible anticipation of christmas sales.

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