Colombia Economic Outlook
September 12, 2017The economy accelerated only marginally in Q2 from the tepid growth recorded in Q1 as still-weak domestic demand once again prevented a definitive expansion. In fact, the uptick in total consumption was mostly propped up by a jump in government stimulus, which acted as crucial support for the economy as household spending again failed to fully recover. That said, bright spots in Q2 included a rebound in fixed investment—which is expected to contribute positively to growth this year after a dismal 2016—and another moderation in the contraction of exports as the mining sector further adjusted to low oil prices. Moreover, exports jumped by more than a third in July from a year earlier and consumer confidence hit its highest level of the year, both suggesting that the turnaround anticipated for H2 could already be underway.
Colombia Economy Data
5 years of Colombia economic forecasts for more than 30 economic indicators.
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|Bond Yield||6.57||0.77 %||Sep 21|
|Exchange Rate||2,915||0.83 %||Sep 21|
|Stock Market||11,075||-0.03 %||Sep 21|
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Colombia Economic Growth
September 12, 2017Following a dismal Q1, reviving fixed investment—partially driven by lower interest rates—and additional fiscal stimulus are expected to support economic growth this year. Although low oil prices will continue to cloud the outlook for this year, the government’s renewed commitment to fiscal responsibility bodes well for the economy’s medium-term health. Our panelists expect GDP to grow 1.8% this year, which is down 0.1 percentage points from last month’s forecast, and 2.7% next year.
Colombia Economic News
September 5, 2017
Consumer prices rose 0.14% from the previous month in August after falling 0.05% in July, according to the National Department of Administrative Statistics (DANE).
August 31, 2017
On 31 August, the Board of Directors of Colombia’s Central Bank, BanRep, decided to cut the policy rate by 25 basis points to 5.25% from 5.50%, the seventh consecutive rate cut since 2016.
August 16, 2017
The Fedesarrollo Consumer Confidence Index (ICC) rose from minus 11.7 points in June to minus 9.5 points in July, the highest figure so far this year.
August 15, 2017
The economy expanded at a marginally faster pace of 1.3% year-on-year in Q2 after a disappointing start in Q1 (+1.2% year-on-year).
August 14, 2017
Industrial production contracted for a third consecutive month in June, declining a further 1.9% on the heels of May’s revised 0.8% contraction (previously reported: -0.6% year-on-year).