Colombia Economic Outlook
December 9, 2014Colombia’s economy cooled down in the second quarter, decelerating from Q1’s buoyant 6.5% expansion to a more moderate but still robust 4.3%. The slowdown was largely driven by shrinking net exports, and also by slower consumption and investment growth. Recent developments point to a further moderation in economic growth. The drop in the oil price and the resulting decline in government revenues are putting public finances under pressure. In order to plug the funding gap expected for next year, the government proposed a tax reform that introduces a tax on corporate profits and extends both an expiring wealth tax and a tax on financial transactions. Meanwhile, the Colombian peso dropped to the lowest level in more than five years, which, on a positive note, will help boost exports in the manufacturing and agricultural sector.
Colombia Economic Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
|Bond Yield||6.7||2.54 %||Dec 04|
|Exchange Rate||2,279||-0.43 %||Dec 04|
|Stock Market||11,625||-2.73 %||Dec 04|
Colombia Economic Growth
December 9, 2014Colombia’s economic prospects weakened slightly amid the declining oil revenues. LatinFocus Consensus Forecast panelists project the economy to grow 4.9% in 2014. For 2015, the panel sees economic growth of 4.3%, which is down 0.2 percentage points from last month’s projection.
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Colombia Economic News
December 5, 2014
In November, consumer prices rose 0.13% over the previous month, which came in just below the 0.16% price increase registered in October and exceeded market analysts’ expectations of a 0.08% rise.
December 4, 2014
The Colombian peso (COP) depreciated against the U.S. dollar in November, continuing the trend that has been in place since early July.
December 3, 2014
Exports swung from September’s 4.9% annual expansion to a 12.6% contraction in October, marking the largest drop since April of this year.
November 28, 2014
The Central Bank (BanRep) left its reference interest rate unchanged at 4.50% at its 28 November monetary policy meeting.
November 15, 2014
The Fedesarrollo consumer sentiment index rose from 17.1 points in September to 21.6 points in October, reaching the highest point since July.