Colombia Economic Outlook
January 19, 2016Colombia’s economy grew 3.2% in Q3 2015, which was an acceleration compared to the 3.0% increase recorded in Q2 and marked the strongest result since Q4 2014. The economy benefited from a positive boost from total consumption. Data through Q4 point to more moderate growth, as industrial production slowed to a three-month low in October and consumer confidence inched down in November. As low oil prices weigh on government revenues, authorities decided to sell their majority stake in national power generator ISAGEN SA for USD 2.0 billion in January in an effort to finance infrastructure modernization. Indeed, revenues of the sale are planned to be used on upgrading and expanding highways in the less-connected areas of the country. By taking this step, the government is attempting to demonstrate its commitment to fiscal discipline. The sale, however, triggered public protests as citizens accuse the government of selling one of its most profitable assets and doubt that the income will be used as promised. This comes amid general corruption accusations in both the country and the region.
Colombia Economy Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
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|Bond Yield||8.91||1.95 %||Feb 10|
|Exchange Rate||3,391||-0.07 %||Feb 10|
|Stock Market||8,731||0.22 %||Feb 10|
Colombia Economic Growth
January 19, 2016While Colombia’s economy has showed signs of renewed dynamism, it remains exposed to low commodity prices, and immediate concerns such as El Niño threaten to dampen a fragile recovery. Panelists participating in the LatinFocus Consensus Forecast expect the economy to grow 2.7% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel projects economic growth of 3.4%.
Colombia Economic News
February 7, 2016
In January, consumer prices rose 1.29% over the previous month, which came in above the 0.62% price increase registered in December.
February 7, 2016
In December, exports shrank 32.5% over the same month last year, which was an improvement from November’s 37.7% drop and marked the best result in six months.
January 29, 2016
The members of the Central Bank (BanRep) Board decided to increase the reference interest rate by 25 basis points from 5.75% to 6.00% at the Bank’s 29 January monetary policy meeting.
January 18, 2016
In November, industrial production rose 4.8% over the same month of the previous year, which marked an acceleration compared to the 1.3% increase recorded in October and marked the highest reading since March 2014.
January 7, 2016
In November, exports shrank 37.7% over the same month last year, which was a deterioration from October’s 36.9% drop.