Colombia | Weekly update BBVA Tracker: Consumption. 17 July, 2020.

Despite the days without VAT, total consumption still maintains a negative annual growth. At the regional level, there is a significant lag of cities that have extreme measures of isolation due to the increase of cases of Covid-19.

Key points

• Key points:
• In July, consumption of goods grew 14% while that of services remained negative with a fall of 35%.
• Taking into account the sectoral disaggregation of our indicator, only the expenditure in department stores and drugstores has positive variations.
• Despite the day without VAT, spending on clothing falls 51% in July, compared to the same period in 2019
• The recovery of the restaurants occurred earlier in Cali, but in Medellín it has gained strength since June
• While in Cali fuel consumption has recovered 40 pp, in Cartagena it has only recovered 24 pp

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