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Colombia Economic Activity March 2023

Colombia: Economic activity growth eases in March

Economic activity rose 1.6% year on year in March (February: +2.4% yoy). Looking at the details of the release, the agriculture sector accelerated in March, while the contraction in the industrial sector worsened. Meanwhile, the services sector grew at a softer pace.

On a seasonally adjusted monthly basis, economic activity rebounded, rising 0.4% in March (February: -1.3% mom). Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at 5.7%, down from February’s 6.2% reading.

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