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Colombia's economy grows 4.6 percent

Friday, June 20, 2014

Colombia’s economy grew at the fastest pace in more than two years in the first quarter, beating all analysts’ forecasts, after a surge in government spending ahead of President Manuel Santos’ re-election.

Gross domestic product grew 6.4 percent from the year earlier, the national statistics agency said, compared with 4.9 percent in the previous three months.

“Internal demand has shown a very good performance, particularly private consumption and investment,” said Daniel Velandia, head analyst at Credicorp's Colombia unit.

Source: Bloomberg