Colombia’s financial system grew by 8.6% in August

After a month-to-month slowdown in July (-0.3%), the Colombian financial system recovered in August.

The Colombian financial system grew 8.6% year-on-year within the eighth month of the yr and registered a month-to-month improve of 1.4%, in line with DANE’s Financial Surveillance Indicator (ISE).

In accordance with the statistics company, the three essential financial sectors contributed essentially the most to the expansion of the Colombian financial system in August.

Colombia’s financial system grew by 8.6% in August. (Picture web copy)

Commerce, Transportation, Lodging and Meals Providers with 1.6 share factors (PPS), adopted by Arts, Leisure and Different Providers (1.3 PPS) and Public Administration and Protection, Schooling and Well being (1.2 PPS).

These three essential gadgets contributed 4.1 share factors to the entire change within the financial system in August (8.6 p.c).

In accordance with DANE, the month-to-month upturn within the Colombian financial system in August is the third strongest in 2022, with April performing greatest at 2%, adopted by February at 1.6% and August on the 1.4% above.