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Colombia Economic Activity December 2022

Colombia: Economic activity records slowest expansion since February 2021 in December

Economic activity grew 1.3% compared to the same month a year earlier in December, which was a deterioration from November’s 2.3% increase. The outturn marked the worst reading since February 2021. December’s deterioration was largely driven by weaker activity in the industrial and services sectors. However, the agricultural sector shrank at a softer rate.

On a seasonally adjusted monthly basis, economic activity rebounded, rising 0.6% in December (November: -0.2% mom s.a.). Meanwhile, annual average economic activity growth fell to 7.2% in December (November: +8.1% yoy), pointing to a worsening trend.

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