Business confidence decreased in Colombia in Mayaccording to the most recent update of the Fedesarrollo Business Opinion Survey.
According to the firm, the Commercial Confidence Index stood at 12.5%, which represented a decrease of 2.8 percentage points (pp) compared to the previous month, when it stood at 15.3%.
Although the indicator remains in positive territory, it showed a drop in the fifth month of the year.
Why did business confidence decline in Colombia in May?
According to Fedesarrollo, this was due to a worsening of expectations for the economic situation for the next semester, as well as a lesser perception of what is happening today.
In any case, these reductions were partially offset by a 2.4 pp drop in the level of inventories.
On the other hand, Fedesarrollo reported that the Industrial Confidence Index stood at -5.4% in May 2024, showing a reduction of 2 pp compared to the previous month (-3.4%).
In its statement, the study center reported that the negative monthly variation was explained by a decrease in the current volume of orders and also due to lower production expectations for the next quarter.
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