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Colombia economy grew 4.2 percent

Tuesday, December 16, 2014

Colombia grew at the fastest pace among major Latin American economies in the third quarter as a surge in home building and public works projects helped soften a contraction in oil and manufacturing.

Gross domestic product expanded 4.2 percent from a year earlier, little changed from the previous quarter’s 4.3 percent growth, the national statistics agency said.

“Construction has been the driver and will continue to be so next year,” Daniel Velandia, head analyst at Credicorp Capital’s Colombia unit, said.

Source: Businessweek