Colombia | Weekly update BBVA Tracker: Consumption and Investment. 2 December, 2020.

Summary

Consumption in November grows 13.6% y/y thanks to the impulse of the day without VAT, services continue to recover but remain in negative territory.On the other hand, investment continues to show marginal improvements associated with a lagging construction component but greater dynamic in machinery and equipment.

Key points

• Key points:
• Airline spending reaches a new high in November, recovering 15pp from October. The opening of movie theaters slightly boosted entertainment spending.
• In Bogota, the recovery of consumption was one of the most important at a regional level with great influence of clothing and appliances. In despite of this, together with Medellin they are the cities that lag behind.
• Cash withdrawals in November are above the level recorded a year ago driven by the advance payment of mid-year wages.
• In November, while the construction investment component has made marginal progress, a good M&E performance was observed.

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