Colombia’s Consumer Confidence Hits Its Best Level Since Early 2015

Key Points

• Consumer confidence posted its strongest result since early 2015.
• Gains are broad across cities and most income groups, but the top tier is still slightly negative.
• Durables are improving fast; vehicles and housing remain hesitant.

Fedesarrollo’s November 2025 Consumer Confidence Index rose to a balance of 17.0%, the best since January 2015 (17.9%). A “balance” is positive answers minus negative ones. October was 13.6%, and November added 3.4 points.

Expectations climbed 2.3 points to 20.4 (best since June 2018) and economic conditions jumped 5.0 points to 11.9 (best since June 2015). A year earlier, headline confidence was -5.7%, expectations -4.1%, and conditions -8.2%.

Why this matters abroad: Colombia’s domestic demand feeds regional trade, corporate earnings, and investment decisions, and confidence often shifts before spending does.

The “will your household be better off?” balance was 38.0%, down from 41.7% in October. “Good economic times in the next 12 months” rose to 10.0% from 3.1%, and “the country will be better in 12 months” increased to 13.2% from 9.5%.

The durables signal strengthened. The question on whether it is a good time to buy items such as furniture and appliances rose 17 points and stayed positive at 12.5%, versus -5.0% a year earlier.

Overall willingness to acquire durables increased 1.7 points from the prior month and 17.5 points from November 2024, with Barranquilla at 48.1%.

All five surveyed cities were positive on confidence: Barranquilla 37.9% (from -1.7% a year earlier), Cali 24.8% (from -9.0%), Bucaramanga 18.7% (from 7.0%), Bogotá 15.0%, and Medellín 7.7%.

By income, the high tier was the only group negative (-1.4%), versus 17.6% for middle-income and 18.2% for low-income. The caveat is big-ticket items.

Vehicle-buying intent was -17.7%, improving from -34.1% in October and -50.4% a year earlier. Housing-buying intent improved to -12.6% from -21.7%, with Barranquilla at 31.6%, Medellín at -1.7%, and Bogotá at -23.0%.

The story behind the story is conditional recovery: households feel better, but they still hesitate when monthly payments are steep and the policy environment feels changeable.