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.
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.