Colombia Economic Outlook
June 13, 2017According to recently released data, the economy started the year on a sour note. GDP growth slowed from 1.6% in Q4 to 1.1% in Q1 as a result of a deceleration in domestic demand growth. Private consumption was hard hit in Q1 as a consequence of the three-percentage-point hike in the Value-added Tax implemented by Colombia’s cash-strapped government as part of a comprehensive tax reform. On a better note, government consumption growth accelerated and fixed investment growth contracted at a slower rate. Despite Q1’s disappointing print, the economy is widely expected to gradually gain traction in later months.
Colombia Economy Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
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|Bond Yield||6.52||2.03 %||Jun 16|
|Exchange Rate||2,975||0.74 %||Jun 16|
|Stock Market||10,904||0.95 %||Jun 16|
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Colombia Economic Growth
June 13, 2017GDP growth will experience a slight acceleration in 2017 on the back of accommodative monetary policy, stronger government consumption and higher commodity prices. Analysts expect the economy to grow 2.1% in 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, our panel projects economic growth of 2.9%.
Colombia Economic News
June 5, 2017
In May, consumer prices rose 0.23% from the previous month, which was below April’s 0.47% reading and market expectations of a 0.32% increase.
June 2, 2017
In April, exports grew just 6.8% from the same month of the previous year, which followed the staggering 37.9% expansion recorded in March and was the lowest reading since October 2016.
May 26, 2017
The board of the Central Bank (BanRep) decided to cut the policy rate by 25 basis points to 6.25% at its 26 May monetary policy meeting, which was in line with market expectations.
May 16, 2017
The Fedesarrollo consumer sentiment index rose from March’s minus 21.1 points to minus 12.8 points in April, marking a four-month high.
May 12, 2017
In March, industrial production swung to a 4.8% expansion annually (February: -3.2% year-on-year), after two months of contraction.