Colombia’s economy showed contraction of 4.5 %

The indicator for monitoring the Colombian economy registered a contraction of 4.5 % in October compared to the same month of the previous year, when the economy presented a year-on-year growth of 3.6 %, according to data from the National Administrative Department of Statistics (DANE ) published this Friday.

The fall in October is the best figure recorded in the indicator since the start of the pandemic in March, when economic activity fell 4.4 %.

By activities, the services sector registered a contraction of 2.6 % with respect to the previous year, while industry fell 8.1 % and primary services fell 9.5 %. The services sector was the one that had the greatest influence on the economic decline, according to DANE.

The data contrast with those of October 2019, when service activities grew by 4.2 %, while industry and agriculture increased by 1.5% and 4.8%, respectively.

K. Tovar

Source: dpa