Colombia’s Economy Contracted 9% in Third Quarter, More Than Predicted

The recreation and entertainment sector contracted by 29.7% in the third quarter compared with the same period in 2019, while construction shrank by 26.2% and the retail, wholesale, transport, hospitality and food services sector contracted 20.1%.

RIO DE JANEIRO, BRAZIL - Colombia’s economy shrank 9% in the third quarter compared with the same period last year, the government said on Tuesday, November 17th, as it continues to feel the effects of the coronavirus pandemic and a long lockdown.

The contraction was more severe than the median prediction by analysts, who said the Andean country’s gross domestic product (GDP) would contract by 8.7%.

The contraction was less than recorded in the second quarter, the country’s worst economic hit in at least decades, thanks to the lifting of more than five months of coronavirus quarantine . . .

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