:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/WG7HPEMCEVDKFHOSYGW3JBLIQA.jpg "Consumer confidence fell to 28.6% in January and is at its lowest since May 2021")
In January 2023, the Consumer Confidence Index (CCI) who studies Fedesarrollo (Foundation for Higher Education and Development) recorded a balance of -28.6%, which represents a decrease of 6.3 percentage points (pps) compared to December 2022, when it was -22, 3%. This is therefore the lowest balance recorded since May 2021.
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The drop in the ICC compared to December is explained by a 5.3 pp drop in the Consumer Expectations Index (-16.5%) and 7.8 pp au Economic Conditions Index (-46.8%).
According to the entity, consumer confidence has declined across all socio-economic levels and cities analyzed relative to December 2022. Similarly, willingness to buy housing, vehicle and personal property and household appliances decreased compared to December.
“Comparing the results of the first quarter of 2023 with the results of the fourth quarter of 2022, we observe that the evaluation of the consumers concerning the situation of their housing has decreased by 3.1 pps and the evaluation of the situation of their country has decreased. consumer willingness to buy durable goods was -59.3% so far this quarter, a result that represents an 8.7pp drop from to the balance recorded in the fourth quarter of 2022,” he said. Fedesarrollo.
In January, the CCI decreased in all analyzed cities compared to December 2022. Cali and Barranquilla like the cities with the biggest drop in confidence. Compared to the previous month, the ICC posted a decrease of 2.9 pp in Medellin (of -27.1 to -30.0), 5.4 pps in Bogotá (from -27.1 to -32.5), 8.6 pps in Bucaramanga (of -7.6 to -16.2) 10.0 pps at Cali (from -9.4 to -19.4) and 16.6 pps at Barranquilla (from -1.9 to 18.5).
In January, consumer confidence fell across all socio-economic levels compared to December 2022. By socio-economic level, and compared to the previous month, CCI fell by 1.0 pp in middle stratum (of -27.1 to -28.1), 9.2 pps in the high stratum (from -31.1 to -40.3) and 11.1 pps in the lower stratum (from -16.7 to -27.8).
Meanwhile, willingness to buy a home fell 2.9pp from a month ago. For citiesthis indicator decreased in four of the five cities analyzed compared to December 2022. In January, the willingness to buy a house indicator was -51.0%, which is equivalent to a reduction of 2.9 pp compared to the previous month (-48.1% ).
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Thus, the propensity to buy a house has decreased in four cities: -2.2 pp in Bogotá (of -57.6 to -59.8), -3.8 pps In Medellin (from -43.8 to -47.6)-6.7pp in Cali (from -35.2 to -41.9) and -27.5 pps Barranquilla (of -5.0 to -32.5). While it increased by 45.0 pps in Bucaramanga (from -44.8 to 0.2) compared to what was observed in December 2022.
By analyzing by socio-economic level, the desire to buy a home in January, it fell by -14.3 pp in lower stratum compared to the previous month (from -33.0 to -47.3). However, for the middle (from -59.6 to -54.5) and high (from -81.2 to -53.8) strata, an increase of 5.1 pp and 27.4 pp, respectively, was observed.
willingness to buy furniture and appliances it fell by 7.7 pp compared to December 2022. By city, this indicator fell in four of the five cities analyzed compared to what was observed the previous month.
“The balance of responses indicating whether it is a good or a bad time to buy goods such as furniture and appliances was -59.3% in January, which represents a drop of 7.7 pp compared to December 2022. Disaggregated by city, willingness to buy durable goods decreased by 0.9 pp in Cali (from -44.1 to 45.0), by 6.8 pp in Bogotá (from – 60.8 to -67.6), 14.0 pp in Barranquilla (from -31.2 to 45.2) and 17.9 pp in Medellín (from -36.7 to 54.6). in Bucaramanga, an increase of 5.4 pp was observed compared to the previous month (from -40.1 to 34.7),” Fedesarrollo clarified.
Compared to the previous month, the desire to buy a home decreased in the low socioeconomic status.
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Analyzing by socio-economic level, willingness to buy a house in January decreased by -14.3 pp in the lower stratum compared to the previous month. However, for the middle and high strata, an increase of 5.1 pp and 27.4 pp, respectively, was observed.
In January, the will of buy a vehicle recorded a balance of -66.5%, which represents a decrease of 1.7 pp compared to the previous month (-64.8%).