Colombia, Consumer Confidence Lowers by 9.2%

•Semana.com reports that Fedasarrollo measured the Index of Consumer Confidence (ICC) to have lowered from 21.1% in March to 11.9% in April.
•The Index of Consumer Confidence is determined by the Index of Consumer Expectations, which measures household expectations for the coming year, and the Index of Economic Conditions which measure the perception of the current economic circumstances.
•These statistics are very close to the level of consumption which is the most important contributor to the GDP.
•Among the cities, Medellín rose 1.6% in ICC despite the decrease in cities such as Bogotá.
•The upper class’ confidence has actually risen 5.7% whereas the middle class has decreased by 14% and the lower by 6.9%. Read Article