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The seasonally adjusted leading economic index (LEI), which is used for evaluating the short-term economic trend (3-4 months), revealed a more favourable trend for the economy.
Colombia’s economic growth continued to moderately accelerate throughout 2019, driven by strong domestic demand due to improving credit conditions and a positive response from companies to tax incentives.
Following a relatively strong performance in 2017 and 2018, with GDP growth at 6.7% y/y and 6.2% y/y respectively.
The smoothed CEIC Leading Indicator reached 107.1 in May 2019 after which it declined sharply to 91.7 in September 2019, indicating lower GDP numbers in Q3 2019.
Economic growth is expected to remain stable according to the CEIC Leading Indicator. Data from the smoothed leading indicator trended downwards in Q3 from 107.3 in July to 07.08 in September.
CEIC Insights is a unit of CEIC Data that produces proprietary research and analysis. The service features data templates with dynamic visuals for Emerging and Developed markets, providing instant insight from macro overviews to individual sector analysis.
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