Colombia to reduce forecasts on global gloom

Colombia’s central bank will “very probably” cut its forecast for 2012 economic expansion as a slowing global economy cuts demand for the Andean nation’s exports, bank chief José Dario Uribe said.

Banco de la República currently forecasts gross domestic product growth of 4 percent to 6 percent this year.

“The data for the behavior of exports and of the industrial sector will very probably lead the central bank’s forecasters to lower the estimate,” Uribe said.



Source: Business Week