Colombia | Weekly update BBVA Tracker: Consumption. 20 August, 2020.

Summary

The economic recovery in the country has slowed down in recent weeks and this has affected the recovery in consumption, especially in those cities that have aimplemented new quarantines due to the increase in Covid-19 cases.

Key points

• Key points:
• In the first half of August, consumption falls -20.5% y/y, recording a greater drop than that observed in the same period for June and July.
• Spending on fuel and transport has stabilised since mid-July in line with the slowdown in economic openness.
• The start of trial plans for the opening of restaurants in Cali boosted consumption by about 10pp in this city.
• In Bogotá, the pace of recovery in consumption remains weak due to localized quarantines. Clothing is recovering slightly but fuel remains stable in a drop of about 50% y/y.
• In Medellín, consumption in August fell 36% in annual terms, a similar drop to that recorded in May.

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