The Central Bank estimates that growth in the second quarter will be located between 2.5 and 4%, with 3.4% as the most likely figure, which would represent a 6pp increase over the previous quarter. This improved performance is based on indicators from industry and commerce, a higher rate of consumer confidence and an increased production of coffee and oil.
In terms of unemployment, the indicator from May fell to a single digit reaching 9.42%, representing the lowest level for this month in 12 years. Meanwhile, interest rates remained unchanged over the quarter at 3.25%, which according to analysts shows that the index is still expansive enough given the conditions of activity which is still below its potential.
Source : Cushman & Wakefield