Country Economic Forecasts - Colombia
Colombia’s recovery faltered in Q4 2017, with a disappointing GDP rise of just 0.3% q/q. But data revisions meant higher-than-expected overall GDP growth in 2017 of 1.8%. However, the composition of growth in Q4 was troubling, with government spending and net exports providing almost all the impetus, while private domestic demand was weak. We have downgraded our forecast for 2018 GDP growth sharply from 2.9% to 2.4%, due to a combination of slower momentum and a higher base of comparison.