Friday , April 23 2021

GDP growth in Colombia was 2.7% in the third quarter



The National Administrative Department of Statistics (Danish) published on Thursday that during the third quarter of the year GDP from the country grew 2.7%, slightly below the 2.8% result in the second quarter and boosted public administration and defense.

On this occasion, this activity grew by 4.5%, higher than the national average, and the highest growth in "non-market education", with 5.6%, followed by public administration and defense; Social security plans with compulsory membership, with growth of 5.3%.

Public spending was followed by the wholesale and retail trade, with growth of 2.6%, driven, in turn, by food and lodging services that managed to grow 3.3% and retail and wholesale. with an increase of 3%.

However, Financial services increased 1.7% in the quarter, down 0.4% in relation to the previous quarter.

For the first time in several quarters, the construction sector returned positive performance, growing 1.8%, representing a quarterly increase of 6.5%.

You may be interested: Fitch ratifies Colombia's BBB rating

The other sector that grew again was mines and quarries with 1%, despite the increase in the price of crude oil, which would be reflected in the national accounts through exports.

However, this activity registered a fall in the first nine months of the year of 1.8%.

According to the Danish, O GDP national growth of 2.5% so far this year, in relation to the period from January to September of the previous year.

For the accumulated of the year, the activity that most boosted the national economy was the public administration and the defense; compulsory social security plans; education; human health activities and social services, with growth of 5.2%.

We suggest that you: Home sales in 2018 would fall 4.62% over last year

It followed the wholesale and retail trade; repair of motor vehicles and motorcycles; transport and storage; housing and food services, which grew by 3.1%.

Third, processing industries, with growth of 1.5%.

Contrary to what the government had announced in its early days of activity, economic growth does not seem to show that mere arrival Iván Duque Casa de Nariño served as an impetus for a country whose consumer confidence returned to fall with the announcements of a Financing Law.


Source link