May 22, 2024 11:26 GMT
April Industrial And Retail Confidence Expected Today
COLOMBIA
- The narrowing of the trade deficit to $687mn in March was driven by a fall in imports, which declined by 18.8% y/y. Over the first quarter, the trade deficit came in at $2.5bn (vs. $2.2bn in Q4), which on a 12-month rolling basis brought the deficit down to $9.2bn.
- Analysts note that tight monetary policy and high inflation pressures are weighing on domestic demand and contributing to the improvement in the trade position. Latest consensus is for the current account deficit to remain relatively stable this year at 3.2% of GDP, as compared to 2.7% of GDP last year and a 6.2% of GDP deficit in 2022.
- On the data front today, industrial and retail confidence figures for April will be released later. Industrial confidence remained soft at -2.6 in March, while retail confidence was at 14.1.
- April Industrial Confidence, prior revised -2.6
- April Retail Confidence, prior 14.1
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