March 8, 2009
Barclays has lowered its 2009 and 2010 Colombia GDP forecasts and now e
Barclays has lowered its 2009 and 2010 Colombia GDP forecasts and now expects the economy to contract 1.1% this year and grow 3.8% next year. Previously, it thought Colombia’s economy would expand 0.9% in 2009 and 4.0% in 2010. The revision comes as the shop forecasts industrial production for January slipped 10.8% over the same period last year. Barclays estimates that double-digit drops have also happened in petroleum refining, construction permits, retail sales and imports.