attractive landscape in Colombia

Colombia Economic Activity November 2023

Colombia: Economic activity records quickest growth since February in November

Economic activity rose 2.3% year on year in November (October: -0.5% yoy). November’s result marked the best reading since February. Looking at the details of the release, November’s pickup was broad-based. Agriculture and services activity gained steam, while industrial production contracted at a softer rate.

On a monthly basis, economic activity grew 0.9% in seasonally adjusted terms in November, contrasting October’s 1.1% fall and marking the best result since January. Meanwhile, annual average economic activity growth rose to 1.0% in November (October: +0.9%), pointing to an improving trend.

Analysts at Scotiabank Colpatria commented:

“The economic cycle is probably bottoming […]. In the case of the economic activity indicator (ISE), Colombia interrupted three months in a row of annual contractions. ISE expanded by 2.3% y/y in November, showing the effect of the discount events but also an impulse from the regional election process regarding the demand for staff services to count votes.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest