Colombia Economic Outlook
February 17, 2015Colombia’s economy is expected to have grown at the fastest pace in three years in 2014. Nevertheless, economic growth did moderate throughout 2014 after starting the year on a very high note. More recent data suggest that growth momentum continued to cool down at the outset of 2015, reflecting the adverse impact of the weakening crude price on the oil-driven-economy. Exports and industrial production both contracted in November and consumer confidence moderated in January. In the political arena, President Juan Manuel Santos announced that his administration and the FARC guerillas will initiate formal negotiations for a bilateral ceasefire aimed at putting an end to five decades of conflict. The government and the FARC have been in peace talks for over two years and have reached an agreement on three of the items in the five-point agenda so far.
Colombia Economic Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
|Bond Yield||6.55||0.69 %||Feb 26|
|Exchange Rate||2,492||0.26 %||Feb 26|
|Stock Market||10,435||-0.13 %||Feb 26|
Colombia Economic Growth
February 17, 2015The low global oil price continues to weaken Colombia’s growth prospects. LatinFocus Consensus Forecast panelists project the economy to grow 3.6% in 2015, which is down 0.3 percentage points from last month’s projection. For 2016, the panel also projects economic growth of 3.6%.
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Colombia Economic News
February 18, 2015
In December, industrial production (excluding coffee threshing) rose 2.1% over the same month of the previous year, which contrasted the 1.0% contraction tallied in November and marked the largest gain in nine months.
February 13, 2015
The Fedesarrollo consumer sentiment index dropped from 22.4 points in December to 17.9 points in January.
February 6, 2015
In January, consumer prices rose 0.64% over the previous month, which came in above the 0.27% price increase registered in December and exceeded market analysts’ expectations of a 0.53% rise.
January 30, 2015
The Central Bank (BanRep) left its reference interest rate unchanged at 4.50% at its 30 January monetary policy meeting.
January 19, 2015
The Fedesarrollo consumer sentiment index dropped from 24.7 points in November to 22.4 points in December.