In a welcome development for Colombia's economy, retail sales showed signs of recovery in April 2024, marking a substantial improvement over the previous month. According to the latest data updated on June 14, 2024, the retail sales indicator for April stopped at a decline of just -1.6% year-over-year. This is a notable enhancement from March 2024, where the indicator had plummeted to -5.6%.
The comparative analysis highlights that while retail sales are still in the negative, the pace of decline has slowed significantly. In March, the data reflected a sharp downturn compared to the same month a year ago, but April's figures suggest a stabilization and a potential upward trend.
Economic analysts view this recovery as a positive signal amidst broader global economic challenges. The data's improvement may indicate strengthening consumer confidence and a gradual uptick in economic activity, which could bode well for Colombia's retail sector in the coming months.
