Consumption in Colombia
Colombia - Consumption
GDP growth records slowest increase since Q1 2021 in the first quarter, but beats market expectations
GDP growth slowed markedly to 8.2% year on year in the first quarter, from 10.8% in the fourth quarter of last year. Q1's reading marked the worst reading since Q1 2021. However, the print beat market expectations.
Household spending increased 12.2% in the first quarter, which was below the fourth quarter's 13.6% expansion. Public spending improved to a 8.6% expansion in Q1 (Q4 2021: +7.9% yoy). Meanwhile, fixed investment growth sped up to 11.0% in Q1, from the 7.8% increase logged in the previous quarter.
On the external front, exports of goods and services growth fell to 16.7% in Q1, marking the worst result since Q2 2021 (Q4 2021: +35.6% yoy). Conversely, imports of goods and services growth picked up to 38.6% in Q1 (Q4 2021: +36.9% yoy).
On a seasonally adjusted quarter-on-quarter basis, economic growth slowed markedly to 1.0% in Q1, compared to the previous period's 2.5% expansion. Q1's reading marked the worst reading since Q2 2021.
FocusEconomics panelists project GDP to grow 4.9% in 2022, which is up 0.2 percentage points from last month’s forecast. For 2023, panelists see GDP growth at 3.0%.
Colombia - Consumption Data
|Consumption (annual variation in %)||3.4||1.6||2.3||3.7||4.4|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||6.08||0.0 %||Dec 30|
|Exchange Rate||3,287||-0.17 %||Jan 01|
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August 5, 2022
Consumer prices increased 0.80% in July over the previous month, accelerating from June's 0.51% rise.
August 2, 2022
Merchandise exports expanded 17.2% year-on-year in June, decelerating from May’s 47.0% increase.
August 1, 2022
The S&P Global Manufacturing Purchasing Managers' Index (PMI) came in at 49.5 in July, down from June's 55.7—the second-best reading on record.
August 1, 2022
At its 29 July meeting, the Board of Directors of Colombia’s Central Bank (BanRep) voted to increase the benchmark interest rate by 150 basis points, from 7.50% to 9.00%.
July 15, 2022
Manufacturing output grew 46.2% in year-on-year terms in May, which was above April's 13.7% increase.