LatinNews Daily - 11 January 2021

In brief: Consumer confidence recovering in Colombia

*Local economic think-tank Fedesarrollo has updated its consumer confidence index (ICC) based on its December 2020 survey of consumers in Colombia. The ICC figure reached -10.4% in the last month of 2020, up from -13.6% in November, although down year-on-year from the -9.5% registered in December 2019, before the onset of the coronavirus (Covid-19) pandemic. Domestic consumption plunged in Colombia in 2020, leading the country to post its lowest inflation figures on record, and to face an estimated GDP contraction of between 6.5% and 9%, according to the central bank (Banrep).