2024-09-19 01:18:44
The Colombian economy experienced its best performance of 2024 during the month of July, registering a growth of 3.68%, according to the Economic Monitoring Index (ISE) of the National Administrative Department of Statistics (DANE).
This increase reflects a recovery compared to the same period of the previous year, when the indicator achieved a more limited growth of 1.1%.
The ISE, a tool that measures the monthly evolution of the country’s economic activity based on various sectoral indicators, presented an original series of 124.81 points in July 2024which represented an increase compared to the 120.38 points reached in July 2023. The series adjusted for calendar and seasonal effects reached 123.43 points, showing an increase of 3.86%.
The DANE report highlighted that primary activities, which include agriculture, livestock, fishing, forestry, and mining and quarrying, led economic growth in July 2024 with an increase of 7.45% in its original series.This sector rose from 104.61 points in July 2023 to 112.39 points in the same month in 2024. The adjusted series showed an increase of 7.14%, consolidating itself as one of the drivers of the recovery.
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Secondary activities, corresponding to the manufacturing industry and construction, also showed a growth, although more moderate, of 1.47%. In their original series, these activities were located at 95.84 points, while the adjusted series showed an increase of 2.05%, reaching 97.14 points.
Tertiary activities, which include services, trade, communications and other related sectors, grew by 3.29% in the original series, reaching 135.51 points. The seasonally adjusted series registered an increase of 3.49%, showing a positive performance both compared to the same period last year and compared to June this year.
In the balance of the first seven months of 2024, the accumulated growth of the ISE was 1.89%, higher than the 1.09% recorded in the same period of 2023. This behavior reflects a positive trend for the Colombian economy in the short term, driven mainly by the dynamism of primary activities and the rebound of the tertiary sector.
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