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Colombia : Office Snapshot - Q3 2013

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Colombia : Office Snapshot - Q3 2013

According to the Central Bank GDP growth for the third quarter is estimated between 3.3 % and 3.4 %, which is below the level of growth achieved in the second quarter which reached 4.2%, but higher than the same period in 2012 when was 2.9%. By 2013 the bank forecasts that growth will reach a level close to the one recorded in 2012 of 4.2%. Unemployment in August fell 0.4 percentage points over the same period of 2012 reaching 9.3% while the employment rate increased 0.5 percentage points going from 58.1 % to 58.6 % during the same period. Meanwhile interest rates remained unchanged at 3.25 % level where they have stayed since March which is its lowest since January 2011. Inflation in the quarter grew 0.4 % and cumulative year to date reached 2.16%. Similarly, the exchange rates showed an increase of 1.3 % from the previous quarter and 6.3% compared to the end of the same period last year standing at COP $1,914.65. Finally, FDI accumulated until July of this year the sum of USD$10.305 million which represented a drop of 1.95 % compared to the same period of 2012. The largest contributorsto this indicator, mining and petroleum, recorded a fall of 3.10 % during the same period reaching USD $8,359 million.

Source : Cushman & Wakefield

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