Colombia Economic Outlook
February 13, 2018The latest data for the final quarter of 2017 was mixed. In November, industrial production and retail sales rebounded. Lower unemployment in November, along with improved consumer confidence in the month, encouraged higher private consumption and supported a turnaround in the retail sector. Consumer sentiment brightened further in December but remained in pessimistic territory. On the other hand, car sales contracted sharply in November, and the external sector continued weighing on growth in December, albeit by less than in the previous month thanks to a notable climb in exports. As imports contracted in December, the trade deficit narrowed. Tensions are mounting on the political front as FARC, the former guerrilla movement-turned-political party, is fielding 75 candidates in the 11 March legislative election and its leader in the presidential election this May. Protests over the party contending, due to the tactics employed by the former rebels in the 53-year conflict, led it to temporarily suspend campaigning on 9 February. Economic activity could potentially be hindered if tensions are amplified.
Colombia Economic GrowthA pick-up in private consumption aided by an anticipated moderation in inflation, higher fixed investment and healthy growth in exports are expected to buoy the economy this year, propelling growth above last year’s rate. Ongoing structural reforms should help economic diversification efforts and boost competitiveness. Met the why particular panelists expect GDP growth of 2.6% in 2018, which is unchanged from last month’s forecast, and 3.0% in 2019.
Colombia Economy Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
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|Bond Yield||6.59||0.0 %||Feb 20|
|Exchange Rate||2,863||-0.17 %||Feb 20|
|Stock Market||11,718||-0.66 %||Feb 20|
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Colombia Economic News
February 15, 2018
The Fedesarrollo consumer confidence index climbed to minus 5.4 points in January, up from minus 6.0 points in December, which marks the best result since November 2016.
February 14, 2018
Industrial production contracted 0.8% over the same month of 2016 in December, according to data released by Colombia’s National Administrative Department of Statistics (DANE) on 14 February.
February 5, 2018
Exports surged 13.6% year-on-year in December, a substantial rise from November’s 6.7% increase.
February 5, 2018
According to the National Department of Administrative Statistics (DANE), consumer prices rose 0.63% over the previous month in January, a bigger jump than the 0.38% month-on-month rise in December.
Colombia: Central Bank cuts the rate to 4.50% in surprise move; indicates an end to the easing cycle
January 29, 2018
Colombia’s Central Bank (Banco de la República, BanRep), opted to cut the benchmark interest rate by 25 basis points to 4.50% at its Board of Directors meeting held on 29 January.