The Colombian economy it expanded 3% in the first quarter, compared to the same period last year, reported Monday the National Department of Statistics (DANE), a figure higher than expected by the market.
According to the median of a Reuters poll, the market expected a Gross Domestic Product (GDP) expansion of 2.8% in annual terms for the first quarter.
For its part, the technical team of the Central Bank had estimated 3 percent.
First quarter growth compared to 8.2% in the same period a year earlier.
The variation in the first quarter was explained by a growth in financial and insurance activities with 22.8%, in arts and entertainment with 18.7% and in public administration, defense, education and health with 1.9 percent.
The exploitation of mines and quarries grew by 3.6%, while professional, scientific and technical activities expanded by 2.3% and real estate by 1.9 percent.
Other increases occurred in commerce, transportation, accommodation and food services with 0.5%, in information and communications with 3.2%, in the manufacturing industry with 0.7%, in public services with 1.4% and in the agricultural sector with 0.3 percent.
In contrast, the construction sector contracted 3.1% in the reported quarter.
Meanwhile, the Colombian economy it expanded 1.4% between January and March, compared to the fourth quarter of last year.
Only in March, the economic activity of the South American country grew by 1.6% compared to the same month of the previous year, while DANE revised the data for January to 4.8% from an original 5.9% and for February to 2.4% compared to a previous 3%.
The agency also revised the total economic growth figure for 2022 to 7.3% from a previous 7.5%.
He central bank has uploaded his benchmark interest rate in a total of 1,150 base points to the current level of 13.25%, seeking to contain the high inflation that at the end of April stood at 12.82% annually, more than four times above the target of 3 percent.
According to the median of the Reuters survey, the Colombian economy would register an expansion of 1% for the total of this year, 2.3% in 2024 and 3% in 2025.
