December 3, 2020
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In Colombia there is a significant gender gap, especially for sectors of the labor market with high female participation, when analyzing the history it is obtained that the pandemic exacerbated this inequity, so it is necessary to work on policies that promote female inclusion to confront the deterioration.
The labor market continued its recovery process in October, but it slowed down. Job creation was more related to the economic recovery and less to sectoral openings. Moving forward, the slow recovery of the labor market will continue
December 2, 2020
Colombia | Weekly update BBVA Tracker: Consumption and Investment. 2 December, 2020.
Consumption in November grows 13.6% y/y thanks to the impulse of the day without VAT, services continue to recover but remain in negative territory.On the other hand, investment continues to show marginal improvements associated with a lagging construction component but greater dynamic in machinery and equipment.
The third day without VAT that we had in the country had a significant positive effect on private consumption, in addition the data gives a break to trade due to its dynamism after a drought of good news in times of pandemic.
The third and last day without VAT of the year had a very positive balance for the sectors that benefited from this exemption. Consumption during this day was 50% higher than that registered for the two previous days. The clothing and household appliance sectors were some of the big winners.
In LatAm, confinements have begun to be reduced and new infections showed lower levels, although they are still high. In Colombia there was an important reactivation of the economy in the third quarter. The recovery will continue, although at a gradual pace.
Due to calendar effects, the consumption slows down in the last days. However, the current month is at similar levels to what was registered a year ago, the good recovery of services is maintained. At the regional level, consumption is slowing down in areas with high Covid affectations.
Third quarter GDP fell 9.0% YoY, although it showed a significant rebound from its second quarter level, increasing 8.7% QoQ. The impetus for the recovery came from domestic demand, while exports remain very depressed. For the whole of 2020, a drop in GDP of 7.5% is expected.