LatinNews Daily - 17 May 2021

In brief: Colombia reports first GDP rise since start of pandemic

* Colombia’s national statistics department (Dane) has reported that GDP rose by 1.1% in the first quarter of 2021 compared with the same period the previous year, representing the first year-on-year quarterly rise in GDP since the country’s coronavirus (Covid-19) epidemic began in March 2020. Dane reported that seasonally-adjusted GDP rose by 2.9% in Q1 2021 compared with Q4 2020. Year-on-year growth was greatest in the arts, entertainment & recreation sector (7.6%); industrial manufacturing (7%); and the financial and insurance sectors (4.9%). The largest year-on-year contractions were in mining (-15%); construction (-6%); and electricity and gas service providers (-1.3%). President Iván Duque said that the 1.1% GDP increase had “exceeded all expectations and means that the recession is over”.

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