Colombia | Weekly update BBVA Tracker: Consumption. 14 January, 2021.

Summary

Consumption in January shows a significant deterioration related to the new mobility restrictions imposed by the arrival of the second wave of Covid-19 in the country. At the regional level, the impact on consumption has been differentiated and has depended largely on the degree of closure of the economy.

Key points

• Key points:
• Spending on services is again the most affected by the distancing measures, falling back to levels similar to those recorded in August.
• Restaurant spending slows down by about 12pb just in the total quarantine weekend in most large cities.
• As the second wave of the Covid-19 hits Latin America hard, airline spending falls by more than 25bp from its December peak.
• Consumption in Bogota and Medellin is among the most affected by the new quarantines and falls about 10pp in January compared to December.
• The easiest restrictions imposed in Cartagena during the holiday of kings are reflected in a greater dynamism in consumption in this city and specifically in service sectors such as restaurants.

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