Consumer confidence in Colombia dropped 7.4 percentage points in April compared to the same month last year and 9.2 percentage points compared to March.
According to a survey by Fedesarollo, the consumer confidence index went from 21.1% is March to 11.9% in April.
The study showed that the drop was mostly the result of a drop in confidence in the economy by residents in the capital Bogota and the country’s third largest city Cali.
In Medellin, the country’s second largest city, the consumer confidence index went up in Medellin.
The impressive drop in confidence is mostly felt by lower class and middle class. Colombians of the highest estratos, 5 and 6, were increasingly confident in the economy.
