* Colombia’s national statistics institute (Dane) has reported that the country’s economy contracted by 9% year-on-year in the third quarter of 2020. This represents an improvement on the 15.8% contraction registered in the second quarter, but demonstrates that the economic impact of the coronavirus (Covid-19) pandemic is still being strongly felt, and brings Colombia officially into economic recession after posting a second consecutive quarter of economic contraction. Dane director,
Juan Daniel Oviedo, noted that growth had been registered in a handful of sectors, with the real estate sector growing by 1.8% year-on-year, and the financial and agricultural sectors each growing by 1.5%. However, these advances were outweighed by contractions of 29.7% in the creative sector, 26.2% in construction, 20.1% in commerce, 19.1% in mining, and 7.2% in manufacturing.
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