Colombia Economic Outlook
November 11, 2014Economic growth lost steam in the second quarter, cooling down from Q1’s buoyant 6.5% pace to a milder but still robust 4.2%. Dwindling net exports and, to a lesser extent, weaker growth in consumption and investment drove the slowdown. More recent indicators send mixed signals, but overall suggest that economic growth will remain solid in the second half of the year. While the recent weakening of the Columbian peso is supportive of exports, tumbling international oil prices and lower national production are likely to be a drag on the net oil exporter’s economy. In addition, falling oil exports exacerbated the government’s difficulties in financing public spending, prompting it to propose the extension of a tax on financial transactions and to introduce a wealth tax.
Colombia Economic Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
|Bond Yield||6.6||1.68 %||Nov 26|
|Exchange Rate||2,163||0.20 %||Nov 26|
|Stock Market||12,511||-1.33 %||Nov 26|
Colombia Economic Growth
November 11, 2014The expected slowdown in crude sales weakened the economic outlook slightly. LatinFocus Consensus Forecast panelists project economic growth of 4.9% in 2014. For 2015, the panel sees economic growth of 4.5%, which is down 0.1 percentage points from last month’s projection.
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Colombia Economic News
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.
November 14, 2014
In September, industrial production (excluding coffee threshing) rose 1.3% over the same month last year, which came in above the 0.3% increase tallied in August.
November 5, 2014
Exports rebounded from August’s 3.0% annual contraction to a 4.9% rise in September, the largest expansion in four months.
November 5, 2014
In October, consumer prices rose 0.16% over the previous month, which came in above the 0.14% price increase registered in September and market analysts’ expectations of a 0.05% rise.
October 31, 2014
The Central Bank (BanRep) left its reference interest rate unchanged at 4.50% at its 30 October monetary policy meeting.