Retail sales in Colombia climbed 11.9% in June from a year earlier while industrial activity rose 2.2%, according to government data released Friday.
The government's statistics agency, known as DANE, said in a statement that among the sectors that pushed up the overall retail sales number was car and motorcycle sales, which jumped 27% in June.
The only sector to show a decline was books, paper products, magazines and newspapers, which fell 6.4%.
A stronger local currency has made many big-ticket, imported items more affordable for Colombians, leading to a sharp increase in consumer spending.
The country's central bank raised interest rates for six straight months through July in an effort to control spending.
But at its August meeting earlier Friday, the bank decided to leave rates unchanged, fearing a global economic slowdown might be around the corner.
The government's statistics agency, known as DANE, said in a statement that among the sectors that pushed up the overall retail sales number was car and motorcycle sales, which jumped 27% in June.
The only sector to show a decline was books, paper products, magazines and newspapers, which fell 6.4%.
A stronger local currency has made many big-ticket, imported items more affordable for Colombians, leading to a sharp increase in consumer spending.
The country's central bank raised interest rates for six straight months through July in an effort to control spending.
But at its August meeting earlier Friday, the bank decided to leave rates unchanged, fearing a global economic slowdown might be around the corner.
Posts
No comments:
Post a Comment
Thanks for your visit, hope you enjoy the content, we expect to see you again soon.