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Economy / Colombia

Macroeconomic Forecast Colombia

November 2010 | Macroeconomic Forecasts

BMI View: National unemployment in Colombia fell to 10.6% in September (the lowest level since October 2008) from 11.2% in August and 12.6% in July, according to the national statistics agency. As a result, we still believe that unemployment will head down towards our long-held forecasts of 10.0% by end-2010 and 9.5% by end-2011. That said, there are still downside risks to these projections, and we bear in mind that weaker external demand from the US combined with a stronger peso could weigh on industrial employment over the short term.

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