Colombia | Weekly update BBVA Tracker: Consumption. 24 February, 2021.

Summary

During February, consumption is already above the level recorded a year ago, growing 1.2% in annual terms. On the other hand, consumption of goods grew 13% while consumption of services fell nearly 15%. At the regional level, a generalized rebound is observed in the main cities, with the exception of Barranquilla.

Key points

• Key points:
• At the same time that daily Covid-19 cases are slowing down in the country, it is also slowing down drugstore spending.
• Spending in restaurants continues its upward trend and recovers more than 30pp from its recent low in January.
• Spending on clothing is almost at similar levels to those recorded a year ago. Online purchases grew by close to 20% in annual terms.
• In Bogota, consumption in February recovered more than 19pp compared to January. In the last week, the pace of recovery moderated in most sectors.

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