Colombia: Subdued commodity prices weigh on 2015 GDP growth
March 10, 2016
In Q4, GDP grew 3.3% over the same quarter of the previous year, which came in slightly above the 3.2% increase registered in Q3. The reading overshot the 3.0% rise that market participants had expected and represented the highest reading in four quarters. In seasonally-adjusted terms, the economy expanded 0.6% over the previous quarter, which was a weaker expansion than Q3’s 1.1% growth.
In the full year 2015, the economy expanded 3.1%, which was below the 4.4% rise tallied in 2014 and marked the weakest print since the height of the financial crisis in 2009. Growth was negatively affected by the fall in commodity prices, heightened volatility in financial markets and subdued economic dynamics in the region. More detailed GDP data will be released on 17 March.
Author: Eric Denis , Economist