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The national unemployment rate was 10.7% in April, down from 11.2% in the same month of 2022. Seasonally adjusted, the April unemployment rate was at relatively low levels. These lower levels of the unemployment rate have been observed since February 2023 and have been leveraged by a strong increase in employment.
In the first quarter of 2023, GDP grew 3.0% YoY and domestic demand fell 0.1% YoY, due to the deterioration of fixed investment and inventory deaccumulation. External demand contributed positively to growth. BBVA Research has a slight upward bias in its GDP growth projection of 0.7% in 2023.
At the Forum "Colombia's Social challenges" a summarised version of the report "How is the social situation of Colombians?” which analyses variables related to the social situation, characterises the main poverty figures and concludes with the …
In April, monthly inflation was 0.78% and annual inflation was 12.82%, below the expectations of market analysts (who, according to the Banco de la República survey, expected a variation of 0.87%).
In March the national unemployment rate was 10.0%, 2.1 percentage points lower than in the same month of 2022. Seasonally adjusted, the unemployment rate in March was 10.0%, down from 10.3% in February and below the 11.0% level around which it …
At its April meeting, the Central Bank increased the monetary policy rate by 25bp, bringing it to 13.25%. The vote was split, with 2 members voting in favor of holding rates steady, one in favor of a 50bp increase and 4 in favor of a 25bp increase.
A description of the social situation of Colombians, not only with figures on poverty and income, gender gaps, labor market, among others, but also identifying its determinants, their performance and some policy proposals to achieve a better social balance of the country.
In March, monthly inflation was 1.05% and annual inflation 13.34%, close to market analysts' expectations and to that expected by BBVA Research. On the other hand, core inflation accelerated 56 bps in the annual variation compared to February's…
In February 2023, the national unemployment rate was 11.4%, seasonally adjusted, showing lower levels than in previous months, explained by an increase in the population outside the labor force, with employment remaining at similar levels since…
At its March meeting, Banco de la República increased the monetary policy rate by 25 basis points to 13.0%. The vote was unanimous.
The Colombian economy will moderate its growth, from high levels of activity, mainly due to lower private consumption. GDP will grow 0.7% in 2023 and 1.8% in 2024, after a gradual recovery from the end of this year. Inflation will gradually decline, ending this year at 9% and 2024 at 5%.
Current account deficit for 2022 reached $21.446 billion and represented 6.2% of GDP, significantly above historical averages.
