Colombia's Q2 GDP puzzle

It is difficult to square the recent statement by the Colombian Finance Minister, Mauricio Cárdenas, that the economy grew by 4.7% y/y in Q2 with the latest activity data. The release of the official figures next week will give a clearer picture, but for now our coincident indicator suggests that GDP grew by a much weaker 3.8% y/y in the second quarter.

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