Colombia | Weekly update BBVA Tracker: Consumption. 16 December, 2020.

Summary

Consumption slowed down in the first half of December, reflecting some of the early spending by households in November. At the regional level, the slowdown was generalized in the main cities, although with a greater lap in the case of Medellín.

Key points

• Key points:
• In line with expectations, consumption of goods is decelerating strongly and is below the levels recorded before the day without VAT.
• While spending in most sectors has slowed down in the last week, airlines continue to recover.
• Clothing spending continues to increase its share of total spending, as is usual in the December season.
• Debit card use for purchases and withdrawals falls significantly, although associated with a calendar effect on premium payments.
• In Bogotá, consumption in December fell back to slightly higher growth than in October.

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