Colombia Economic Outlook
October 11, 2017The economy is finally experiencing relief thanks to higher commodities prices and a slow but steady recovery in the external sector, which is benefitting from a weaker peso and improved export competitiveness. Moreover, data for Q3 points to an acceleration in economic growth. Domestic demand should be firmer in Q3 as lower inflation and interest rates boost consumer spending, as evidenced by the pick-up in retail sales in July. Furthermore, the government is gearing up for the parliamentary elections in March 2018 and the first round of the presidential election in May 2018, meaning pre-election spending is on the rise. In addition, investment spending of USD 11.4 billion in 2017 for the 4G road infrastructure program is boosting economic growth. However, widespread corruption involving top government officials, including a former supreme court judge who was arrested on 20 September, continues to undermine stability and is evolving into one of the largest challenges the country is facing moving forward.
Colombia Economy Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
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|Bond Yield||6.38||-0.62 %||Oct 13|
|Exchange Rate||2,933||-0.25 %||Oct 13|
|Stock Market||11,084||0.21 %||Oct 13|
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Colombia Economic Growth
October 11, 2017The transition of the FARC from a militant group into an official political party and the first-ever cease fire with ELN rebels are significant strides towards peace, which will eventually translate into new economic opportunities for regions previously affected and will also improve security conditions and attract foreign investment. Met the why particular panelists expect GDP to grow 1.8% in 2017 and 2.7% in 2018, which is unchanged from last month’s forecast.
Colombia Economic News
October 5, 2017
Consumer prices rose 0.04% from the previous month in September after increasing 0.14% month-on-month in August, according to the National Department of Administrative Statistics (DANE).
September 29, 2017
Exports expanded 1.5% in August in annual terms, a significant moderation from July’s impressive 37.6% year-on-year expansion.
September 29, 2017
On 29 September, the Board of Directors of Colombia’s Central Bank, BanRep, decided to put an end to the easing cycle and hold the benchmark interest rate steady at 5.25%.
September 15, 2017
The Fedesarrollo consumer confidence index declined from minus 9.5 points in July to minus 15.9 points in August, reversing the upward trend in sentiment since February.
September 14, 2017
Industrial production rebounded to a solid 6.2% expansion in annual terms in July, recovering from the revised 1.4% contraction in June (previously reported: -1.9% year-on-year).