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Consumer Confidence Due Today, Q2 GDP, BanRep Survey Later This Week

COLOMBIA
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  • On the data front, July consumer confidence figures are expected today. In June, consumer confidence improved marginally to -12.7, from -14.1. Later in the week, June industrial production and retail sales figures are due on Wednesday, followed by June economic activity and Q2 GDP on Thursday. Analysts expect GDP to rise by 0.7% q/q in Q2, lifting the annual rate of growth to 2.8% y/y, from 0.7%.
    • July Consumer Confidence Index, prior -12.7
  • Also on Thursday, BanRep will publish its latest economist survey, which will be of interest for any updates to analysts’ interest rate forecasts, especially in light of the lower-than-expected July CPI data last week, which showed a renewed fall in headline inflation below 7%. The previous economist survey showed that the central bank is expected to step up the easing pace to 75bp in September.
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  • On the data front, July consumer confidence figures are expected today. In June, consumer confidence improved marginally to -12.7, from -14.1. Later in the week, June industrial production and retail sales figures are due on Wednesday, followed by June economic activity and Q2 GDP on Thursday. Analysts expect GDP to rise by 0.7% q/q in Q2, lifting the annual rate of growth to 2.8% y/y, from 0.7%.
    • July Consumer Confidence Index, prior -12.7
  • Also on Thursday, BanRep will publish its latest economist survey, which will be of interest for any updates to analysts’ interest rate forecasts, especially in light of the lower-than-expected July CPI data last week, which showed a renewed fall in headline inflation below 7%. The previous economist survey showed that the central bank is expected to step up the easing pace to 75bp in September.