Economic activity in Colombia expanded 8.6% in August

The National Administrative Department of Statistics (Dane) delivered the results of the Economic Monitoring Indicator (ISE) for the month of August, a period in which the indicator showed a favorable rebound, since its annual variation increased 8.6%. , and showed a monthly growth rate of 1.4%, above the monthly figures of the last five months.

(Signs that would indicate a slowdown in the Colombian economy).

According to the Dane, three sectors led the contributions of the economy for August, with a joint contribution of 4.1 percentage points (pps), they were trade, transportation, accommodation and food services, which add up to 1.6 pps, artistic activities (1.3 pps) and public administration, defense, education and health activities (1.2 pps).

The activities of the tertiary sector or services, which constitute the bulk of the Colombian economy, with around 69.8% of the productive activity, registered an increase of 9.0% in August.

(Economic activity grew in Colombia 6.4% during July).

“The annual variation shows us a behavior that has been falling in recent months but picks up for the month of August, with 9.0%, and the monthly variation also shows us a rebound of 0.9% for that month”, said the director of the Dane, Beatriz Urdinola.

In the case of the secondary sector, manufacturing and construction, the increase compared to August 2021 was 11.5%, while in their inter-monthly variation these sectors showed a growth of 3.4% compared to July.

(Economic activity in Colombia changed 8.5% in June).

Finally, the primary activities, agriculture and the extraction of mines and quarries, grew 2.6% in August in its annual variation, while in the monthly data the performance showed a figure of 3.2%.

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