Colombia | Weekly update BBVA Tracker: Consumption. 12 August, 2020.

During August, consumption falls 24% y/y, a greater drop than that observed in the first days of July. Although the pace of recovery in consumption was slowed by the new regional quarantines, there are already positive signs in some cities with fewer infections that began to open their economies.

Key points

• Key points:
• In the last week, consumption of goods fell 6.7% while consumption of services fell 48% compared to a year ago.
• There is an acceleration in farmacies expenditure that coincides with the recent increase in new cases by Covid-19 in the country.
• Clothing expenditure recovers 35pp in Barranquilla from its recent low at the end of June.
• In Bogotá, the sectorized quarantine affected the recovery in consumption, where the clothing and restaurant sectors stopped since the beginning of the restrictions.
• The closure of Medellín during the first holiday in August, due to the 4x3 strategy, and the failure to hold the Feria de las Flores festival, had a significant impact on consumption with a drop of 5pp compared to the previous days.

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