Colombia Economic Outlook
August 11, 2015The Colombian economy grew 2.8% annually in Q1 2015, which marked a deceleration compared to Q4’s 3.5% expansion and was the lowest growth rate since Q3 2012. The fall in oil prices resulted in a sharp drop in exports, which have been falling every month since October 2014. In June, exports shrank again and the Colombian peso weakened to a multi-year low against the U.S. dollar at the beginning of August. Meanwhile, the conflict between the government and the FARC seems to have eased recently following the FARC’s unilateral ceasefire declared on 20 July, casting new hopes that ongoing talks could lead to a peace agreement. The ceasefire followed several months of renewed violence and various attacks targeting vital infrastructure such as roadways, power networks and crude oil pipelines, which highly disturbed the economy in the southern area of the country.
Colombia Economic Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
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|Bond Yield||7.76||1.44 %||Sep 01|
|Exchange Rate||3,116||1.99 %||Sep 01|
|Stock Market||9,355||-3.18 %||Sep 01|
Colombia Economic Growth
August 11, 2015Subdued exports caused by low oil prices should drag on growth, despite the efforts of the government and an extensive stimulus plan to counter the adverse commodity shock. LatinFocus panelists expect the economy to grow 3.2% in 2015, which is unchanged from last month’s projection. For 2016, the panel projects economic growth of 3.1%.
Colombia Economic News
August 21, 2015
The Central Bank (BanRep) decided to keep the reference interest rate unchanged at 4.50% at its 21 August monetary policy meeting.
August 19, 2015
The Fedesarrollo consumer sentiment index fell in July, decreasing from 14.7 points in June to 2.6 points and thus marking a four-month low.
August 14, 2015
In June, industrial production increased 1.5% over the same month of the previous year, which contrasted the 3.9% drop recorded in May and largely overshot market expectations of a 1.0% decline.
August 7, 2015
The Colombian peso (COP) has been depreciating rapidly since the second half of May 2015 and hit a multi-year low of 2,925 COP per USD on 5 August.
August 6, 2015
In June, exports shrank 31.5% over the same month last year, coming in above May’s 38.9% drop.