After a monthly slowdown in July (-0.3%), the Colombian economy recovered in August.
The Colombian economy grew 8.6% year-on-year in the eighth month of the year and registered a monthly increase of 1.4%, according to DANE’s Economic Surveillance Indicator (ISE).
According to the statistics agency, the three main economic sectors contributed the most to the growth of the Colombian economy in August.
Trade, Transportation, Accommodation and Food Services with 1.6 percentage points (PPS), followed by Arts, Entertainment and Other Services (1.3 PPS) and Public Administration and Defense, Education and Health (1.2 PPS).
These three main items contributed 4.1 percentage points to the total change in the economy in August (8.6 percent).
According to DANE, the monthly upturn in the Colombian economy in August is the third strongest in 2022, with April performing best at 2%, followed by February at 1.6% and August at the 1.4% above.