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Consumption in October has maintained a good dynamic, growing 18.1% compared to the same period in 2019, slightly higher than in September (17.8%), although the highest since the beginning of the pandemic, but with a different composition between goods and services.
October 12, 2021
Colombia | Challenges for the Colombian economy in the face of the pandemic and beyond
The challenges of the Colombian economy are presented in aspects such as pandemic, reactivation and recovery, employment, education and a condition of life with less poverty and more support in old age.
October 11, 2021
Global | The COVID-19 impact on Consumption in Real Time and High Definition: Oct 11th
Consumer spending growth stabilises at August levels in most countries, but with mixed movements by sector of activity. E-commerce maintains the pace of growth in almost all geographies, while the use of cash is losing ground. Spending on services outpaces spending on goods.
Inflation in September had a monthly variation of 0.38%, in line with what we anticipated (0.40%) and stood at 4.51% YoY. Food prices moderated their upward pressure but remained at high levels. Once again, higher education tuition discounts provide temporary relief to inflation.
October 1, 2021
Colombia | In august, the labor market showed good signs for the second consecutive month
In August, the unemployment rate stood at 12.3%, lower than in August 2020, but higher than in August 2019. Between July and August 2021, with comparable data, the unemployment rate fell by 1.2 p.p., a reduction that was leveraged on employment growth.
In September, BanRep increased in 25bp the monetary policy rate to 2.0%. The vote was divided, with 3 members in favor of a 50bp increase. The Staff reviewed their activity, inflation and current account deficit forecasts upward. With this move the Bank starts a rate hiking cycle.
In the absence of data from the last two days of September, consumption grows 17.2% compared to the same period in 2019 according to the BBVA Big Data Consumption Index. A very similar record to that observed in July, a month in which official indicators showed a good performance of the economy.
September 28, 2021
Colombia | Challenges the Colombian economy faces on post pandemic and global trends
Major global trends such as the aging of the population, greater digitalization and concern for the environment, among others, will bring great challenges for the Colombian economy, which is beginning its gradual recovery process.