Colombia Economic Outlook
April 21, 2015Colombia expanded a respectable 4.6% in 2014. The economy was sustained by solid consumption and investment which more than compensated for plummeting exports. The oil-driven economy started off 2014 on a very high note, but growth moderated steadily throughout the year due to the adverse oil shock. The economy continued losing momentum at the outset of 2015: exports recorded another steep contraction and industrial production shrank again in February. Consumer confidence tumbled to an over five-year low in March. In the political arena, the recent clash between FARC guerillas and the military, along with the FARC’s violation of the ceasefire that was declared in December, prompted the government to end the suspension of its bombing campaign against the FARC. These recent developments represent a setback in the progress that had been achieved toward a peace deal.
Colombia Economic Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
|Bond Yield||6.74||-0.46 %||Apr 23|
|Exchange Rate||2,468||-0.94 %||Apr 23|
|Stock Market||10,459||0.96 %||Apr 23|
Colombia Economic Growth
April 21, 2015Colombia’s growth prospects continue to weaken, as the low oil price will likely lead to subdued investment and a further deterioration in exports, as well as calls for fiscal adjustment. LatinFocus panelists expect the economy to grow 3.4% in 2015, which is down 0.1 percentage points from last month’s projection. For 2016, the panel also projects economic growth of 3.4%.
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Colombia Economic News
April 16, 2015
The Fedesarrollo consumer sentiment index deteriorated notably in March, dropping from 14.0 points in February to 2.3 points in March, marking the worst result since June 2009.
April 14, 2015
The Colombian peso (COP) reversed its course against the U.S. dollar somewhat in recent weeks and appreciated slightly against the dollar after hitting a multi-year low in mid-March.
April 14, 2015
In February, industrial production shrank 1.3% over the same month of the previous year, which was a softer contraction than the 4.4% drop recorded in January but fell slightly short of market expectations of a milder 1.1% decline.
April 4, 2015
In March, consumer prices rose 0.59% over the previous month, which came in below the 1.15% price increase registered in February and market analysts’ expectations of a 0.63% rise.
March 24, 2015
In Q4 2014, GDP grew 3.5% over the same quarter of the previous year, which came in below the 4.2% increase registered in Q3 and represented the slowest pace of growth since Q1 2013.