Colombia | Weekly update BBVA Tracker: Consumption. 4 March, 2021.

Summary

Consumption in February returned to pre-pandemic levels, driven by the services segment, which rebounded during the month thanks to the easing of mobility restrictions. Consumption accelerated in all major cities, but only in Barranquilla and Pereira was it above the level recorded a year ago.

Key points

• Key points:
• Department Stores has an additional boost in the last week of February and with this the entire month grows 20% YoY.
• Restaurant spending in February recovered 18pp vs. January. Fuel spending already exceeds the level recorded a year ago.
• Airline spending rebounds in the last week by close to 10pp. Hotel and entertainment spending recovery moderates.
• Fuel spending in February lagged in the major cities and is being offset by higher spending in the rest of the country.
• In Medellin, consumption in February recovered 12pp compared to January and is almost in positive territory. Rebound in restaurants in the last week.

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