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May Economic Activity Data Scheduled

COLOMBIA
  • In Colombia the legislative period of the new Congress begins this Wednesday and where the reforms that Gustavo Petro’s administration seeks to pass will be debated, starting with the tax bill.
    • That day is a public holiday in the country for the celebration of Independence Day.
  • Today, activity data is expected:
    • 1700BST/1200ET: ISE May Economic Activity; y/y Est. 18.5%, Previous 12%
  • The economic activity index likely jumped 18.5% year on year in May amid robust domestic demand. Furthermore, weak economic activity one year earlier due to disruptions caused by nationwide protests provide a favourable base of comparison and should inflate the annual growth rate.
  • The result would be consistent with activity extending its month-on-month uptrend after growth of 1.8% in April. Activity would remain above its level prior to the pandemic and slightly ahead of potential.
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