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Colombia Economic Activity September 2023

Colombia: Economic activity declines less in September

Economic activity decreased 0.1% year on year in September (August: -0.4% yoy). The smaller contraction was largely due stronger growth in the agricultural sector and a softer contraction in the industrial sector. Less positively, growth in the services sector lost steam.

On a seasonally adjusted monthly basis, economic activity rose at a softer pace of 0.1% in September (August: +0.8% mom). Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at a two-year low of 1.2% in September, down from August’s 1.6%.

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