Wednesday, September 17, 2014

Colombia: GDP Grew 5.4% During January-June 2014, Construction Rises 14.2%

According to The Latin American Tribune, boosted by a construction boom, Colombia’s gross domestic product grew 5.4% between January and June, compared with an increase of 3.7% during the same period of 2013, the National Statistics Department said Tuesday (September 16).

The construction industry grew a phenominal 14.2% in the first six months, while services expanded 6.1%, the agency said.

COMMENT: Between January and June the finance, insurance, real estate and business-services sector grew 6.1%, while mining output increased 1.7% and the manufacturing sector grew a mere 0.9%.

The GDP growth in the second quarter was at 4.3% compared with 4.5% in April-June 2013. 

Colombia’s government has projected a 5% increase in GDP for 2014.

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