Colombia Economic Outlook
January 15, 2019Available data suggests that the economy sustained a solid pace of expansion into the final quarter despite a sharp decline in oil prices. Retail sales grew robustly in October against a backdrop of weak inflation and falling unemployment, signaling stronger private consumption growth. Moreover, industrial production jumped in October and car sales also soared in the month. Survey-based data was less promising, however, with consumer confidence tumbling to a 20-month low in November and the manufacturing PMI declining throughout the quarter. On 19 December, the deeply-divided Congress passed a much watered-down tax reform bill. Most notably, the original revenue has been halved, thus forcing a freeze on COP 6.2 trillion spending in efforts to fund the COP 7.8 trillion 2019 budget without sacrificing its fiscal goals.
Colombia Economic GrowthGrowth is expected to climb again in 2019 on an upturn in domestic demand and increased investment in the extractives sector. Private consumption growth should strengthen, thanks to a tighter labor market fueling wage gains. This, coupled with an acceleration in fixed investment, should counter the likely adverse impacts from government expenditure cuts. While fiscal tightening measures are helping to improve the country’s debt dynamics, slashing corporate taxes could present challenges in meeting the targets. Met the why particular panelists expect GDP to grow 3.2% in 2019, which is unchanged from last month’s forecast, and 3.2% again in 2020.
Colombia Economy Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
Get a sample report showing our regional, country and commodities data and analysis.
|Bond Yield||6.82||0.0 %||Jan 30|
|Exchange Rate||3,163||-0.17 %||Jan 30|
|Stock Market||11,901||-0.66 %||Jan 30|
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Colombia Economic News
April 17, 2019
The Fedesarrollo consumer confidence index rebounded after remaining in negative territory for six consecutive months; it rose to 1.2 points in March from minus 5.6 points in February.
April 12, 2019
According to data released by Colombia’s National Administrative Department of Statistics (DANE) on 12 April, the industrial sector grew 2.8% over the same month of last year in February.
April 5, 2019
According to the National Department of Administrative Statistics (DANE), consumer prices increased 0.43% over the previous month in March, a slightly softer upturn compared to February’s 0.57% month-on-month rise.
April 4, 2019
According to the National Department of Administrative Statistics (DANE), exports returned to growth in February, growing 6.2% over the same month of the previous year.
April 1, 2019
Colombia’s manufacturing sector contracted more sharply in March, reflected by a drop in the seasonally-adjusted Davivienda manufacturing Purchasing Managers Index (PMI) from 49.5 in February to 48.9 in March.