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Colombia Economic Activity October 2023

Colombia: Economic activity drops at sharpest rate since April in October

Economic activity declined 0.4% compared to the same month of the previous year in October, which was a larger contraction than September’s 0.3% decrease. The figure marked the worst reading since April. October’s deterioration came on the back of drops in the industrial and services sectors. However, agricultural output increased.

On a monthly basis, economic activity dropped 1.0% in seasonally adjusted terms in October, which was below September’s 0.1% fall. Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at 0.9%, down from September’s 1.2%.

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