Q3 Woes Continue in Spite of Q2 Surprises

COLOMBIA - Report 27 Sep 2013 by Veronica Navas and Andrés Escobar Arango
Executive Summary Surprisingly strong Q2 GDP results were driven by fast-expanding agriculture, construction and social services, and general economic activity grew by a healthy 4.2%. The big shock was in manufacturing, which expanded by 1.2%, though leading indicators had suggested a negative result. The financial sector also surprised, with 3.9% growth. That’s not bad, given the TES selloff in May. A rebound in oil refining revived the manufacturing sector, which was otherwise flat. As several sectors, such as editing and printing, transportation equipment production and paper and leather...

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