Real retail sales grew in the region, surpassing the national average. This performance was driven by increased household spending, lower unemployment, and effective marketing campaigns. Household consumption dynamism and improved financing conditions strengthened businesses and consumer…
R12
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Higher household consumption of durable goods boosted retail sales within the context of improved business confidence. At the same time, the dynamism of sporting events, concerts, and festivals stimulated demand for tourism services, particularly from foreign visitors.
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The increase in retail sales was associated with greater demand, especially for food and beverages, and new vehicles. Improved retail confidence and lower interest rates contributed to this outcome.
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Agricultural production increased due to favorable weather conditions and strong demand. Cattle and pig farming also showed improved performance. Additionally, the food processing industry expanded, particularly coffee hulling, due to the abundant supply of raw materials.
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Commerce strengthened, driven by a rebound in sales of cultural items, entertainment, and new vehicles and motorcycles, amid improved commercial confidence. The financial system supported this momentum with increased lending, particularly to the business sector.
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Retail sales in Antioquia continued to rise, exceeding the national average. This result was associated with discounts, increased tourism, and more favorable financing conditions, among other factors. The strongest retail segments included automobiles, motorcycles, computer equipment, and…
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Retail sales in Santander grew, with vehicles, food, computer equipment, and entertainment standing out. Promotions and discounts boosted consumption. Imports of consumer goods, mainly durable goods, also increased.
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Retail sales slowed down due to a slower growth rate in the sale of vehicles and motorcycles, consistent with a fall in consumer credit. However, sales of food and beverages, as well as computer and communications equipment, led the positive retail performance.
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Agricultural activity expanded due to higher oil palm production, supported by rainfall levels that reduced water stress and favored the development of crops. The livestock segment also grew, driven by an increase in cattle and pig slaughtering, in response to stronger household consumption.
- Publicación |“The existence of closures on the Vía al Llano increases transportation costs by 41.1%, while one more day of closure increases freight costs on average by 3.7%. When examining the effect of blockages on the Vía al Llano caused by natural disasters, by breaking down the goods by sector, it is…
- Publicación |Most macroeconomic labor literature on estimating matching functions does not consider spatial spillover effects. However, job search and vacancy-filling processes often involve neighboring locations, as local workers can search for and fill vacancies in nearby labor markets.
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The southeastern economy showed a fall in the annual comparative in most of its activities during the third quarter of 2023. There were declines in construction activity indicators such as approved and in-process areas, new housing sales, and gray cement shipments. In the livestock sector, there…
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In the third quarter of 2023, economic activity in the Coffee Region continued to decline annually, given the persistent weakness of demand due to high prices, high interest rates, and reduced spending capacity. Industrial production and sales decreased, as well as in vehicle and…
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The economy in the Northwestern region slowed sharply in the third quarter of 2023. Higher interest rates, persistent inflation, and uncertainty contributed to the weakening of aggregate demand. On the one hand, industry and commerce experienced their most significant falls since the beginning…
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The Caribbean region’s economy continued to decelerate in the third quarter, with annual declines in several economic indicators primarily due to weakening demand and the lingering statistical effect of a high comparison base. In terms of activity, industrial production contracted, hindered by…
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In the third quarter, the northeastern economy exhibited a further slowdown in annual growth due to an adjustment in domestic demand, in a context of high interest rates and inflation. There were decreases in retail sales, hotel occupancy, and energy consumption. The variables related to…
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In the third quarter, the Central Region’s economy declined in its annual comparative due to a deterioration in demand and high interest rates. Industry saw a deepened decline from previous months due to lower sales, while agricultural production, passenger transportation, and construction all…
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In the third quarter, the Bogotá region (Bogotá and Cundinamarca) continued to show a low performance in the annual comparative due to the weakening of domestic demand, persistent inflation, and high financial costs. Industry and commerce contracted due to the high annual comparison basis, the…
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The southwestern economy deteriorated in the third quarter of 2023 vis-a-vis the same period of the previous year, as reflected in the different sectoral leading indicators available. The primary drivers behind the economic contraction were lower domestic demand (adversely affected by high…
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Colombia experienced one of the fastest declines in fertility in the world: children per woman fell from 7 in 1960 to 3 in 1985. Despite the country's significant inequalities, the regional aspect of this decline has been overlooked in previous research. This…
