Colombia | Weekly update BBVA Tracker: Consumption and Investment. 3 February, 2021.

Summary

The strong mobility restrictions implemented in the first part of January, which were extended in some cities, had a very negative impact on consumption, which fell 9.8% YoY in this month. On the other hand, the recovery of investment continues, although at a slower pace, influenced by the construction component.

Key points

• Key points:
• A rebound in spending on fuel, restaurants, clothing and online transactions was observed during the last weekend of January due to reduced mobility restrictions in some cities.
• Bogota, Medellin and Cali were the cities with the greatest deterioration in consumption in January compared to December. Barranquilla was in positive territory.
• Cash withdrawals remain at lower levels than those recorded in the same period a year ago.
• The recovery in investment continues, although at a more moderate pace after picking up between July and August.

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