Colombia Economic Outlook
December 4, 2018Economic growth weakened slightly in Q3 as the government intensified its fiscal consolidation efforts and fixed investment growth slid on weaker business confidence and a wider slowdown in manufacturing activity. Leading indicators point to a moderation going into Q4, with consumer confidence falling further into negative territory in October on downbeat sentiment over general economic conditions. The manufacturing PMI also lost ground in October–November. After failing to gain approval for the first and second draft of the tax bill, the government is set to present a notably watered-down tax reform proposal to Congress, with its original revenue target halved. Fierce opposition forced the government to abandon the planned tax of basic foodstuffs, thereby compelling a freeze on spending in order to meet the fiscal goals and avert a potential credit rating downgrade.
Colombia Economic GrowthThe economy is expected to gain steam next year, powered by higher oil prices, increased investment in the extractives sector and an upturn in domestic demand. A tighter labor market should buoy private consumption, while an acceleration in fixed investment should also fuel growth. However, although the country’s debt dynamics have improved, slashing corporate taxes could present challenges in meeting the fiscal targets, notwithstanding the positive impact on investment. 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.
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|Bond Yield||7.02||0.0 %||Nov 29|
|Exchange Rate||3,239||-0.17 %||Nov 29|
|Stock Market||11,995||-0.66 %||Nov 29|
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Colombia Economic News
Colombia: PMI falls for the fourth consecutive month in November amid wider global slowdown in manufacturing activity
December 3, 2018
Colombia’s manufacturing sector lost pace for the fourth consecutive month in November, reflecting a wider slowdown in manufacturing activity worldwide amid intensifying trade war tensions.
December 3, 2018
According to the National Department of Administrative Statistics (DANE), exports accelerated markedly in October.
November 22, 2018
According to the latest GDP data released by the National Statistical Institute (DANE) on 22 November, the economy grew at broadly the same pace in the third quarter as it did in the second, dipping just marginally.
November 16, 2018
The Fedesarrollo consumer confidence index sunk deeper into negative territory in October, dropping to minus 1.3 points from minus 0.7 points in September.
November 14, 2018
According to data released by Colombia’s National Administrative Department of Statistics (DANE) on 14 November, the industrial sector grew at a weaker pace of 2.9% over the same month of the previous year in September, after expanding a revised 4.2% year-on-year in August (previously reported: +3.9% year-on-year). Looking at a breakdown of the data showed that September’s weaker pace of expansion was due to a marked drop in the output of coking, oil refining and fuel blending, along with more modest downturns in the manufacture of basic chemical substances and their products, and manufacture of metal products. Annual average growth in industrial production climbed to 2.0% in September, up from 1.5% in August. Colombia Industrial Production Forecast