Modest Growth

COLOMBIA - Report 06 Jun 2016 by Veronica Navas and Mauricio Santa Maria

GDP expanded by 2.5% in 1Q, in line with market expectations. The leading sector was the manufacturing industry, up by 5.3%, mostly as a result of the Cartagena Refinery’s operation, which soared by 20%. The rest of the manufacturing industry’s performance was less spectacular, aside from beverage production, which expanded by a whopping 16.5%, arguably due to an unusually warm first quarter of the year. The greatest share of the sector grew moderately, while a few subsectors (sugar, oils, textiles, machinery and equipment and transportation equipment) continue in negative turf.

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