Analysis by Region - Emerging Markets - Colombia
We have cut our 2023 GDP growth forecast by 0.1ppt to 0.9% after GDP fell in Q2 by a more-than-expected 1% q/q, as the effects of high inflation and monetary policy tightening materialised a bit sooner than we thought. This, in turn, points to a milder correction during the second half of the year. The resulting carry-over means that we have raised our 2024 growth forecast to 0.1% from -0.9%.
Colombia: Output slump in L2 signals start of a recessionForecast overviewRecent developmentsShort-term outlookKey drivers of our Short-term ForecastEconomic riskEconomic risk evaluationBackgroundEconomic developmentStructure of the economyBalance of paymentsEconomic Policy and Politics