Colombia: Economic activity growth drops to over one-year low in November
Economic activity rose 3.0% year on year in November (October: +4.6% yoy). November’s outturn marked the worst reading since February 2021. The notable deterioration was largely driven by a deterioration in the agriculture and services sectors.
On a seasonally adjusted monthly basis, economic activity fell at a softer rate of 0.1% in November (October: -0.7% mom). Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at 8.3% in November, down from October’s 9.0%.