Colombia | Weekly update BBVA Tracker: Consumption. 23 July, 2020.

Consumption continues its recovery driven by increased consumption of goods. However, the negative effects on consumption of the new quarantines adopted in some cities such as Bogotá and Medellín due to the increase in new infections of Covid-19 are now becoming evident.

Key points

• Key points:
• Despite the recent increase in the number of new Covid-19 infections in the country, consumption recovered 8pp in July (down 8.6% y/y) from June.
• Service sectors are moderating their recovery while consumption of goods continues to grow, especially in pharmacies.
• Stricter mobility restrictions in some cities are beginning to be evident in consumption.
• The strict quarantine in Medellín during the weekend significantly affected consumption in this city. Especially in sectors such as clothing and restaurants that were beginning to show positive signs.
• In Bogotá, despite the beginning of the mandatory sectorized quarantine, we still do not see a very noticeable impact on consumption. But there are signs of a slowdown in fuel and clothing consumption.

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