Israel Inflation Rate at Over 2-Year High
Prices of goods and services in Israel went up by 0.8 percent year-on-year in April of 2021, after a 0.2 percent gain in previous month. It was the highest inflation rate since June of 2019, although below the annual government inflation target ranging from 1 percent to 3 percent. Prices advanced at a faster pace for transportation & communication (3.4 percent vs 0.2 percent in March); education, culture & entertainment (2.0 percent vs 1.6 percent); housing (0.5 percent vs 0.4 percent); and dwellings maintenance (0.2 percent vs -0.3 percent). In contrast, prices continued to fall for clothing & footwear (-3.9 percent vs -4.2 percent) and food (-0.8 percent vs -0.3 percent). On a monthly basis, consumer prices went up by 0.3 percent, following a 0.6 percent increase in the previous month.
Colombia Leading Economic Index Jumps Record 11.8%
The economy of Colombia grew a record 11.8 percent year-on-year in March of 2021, rebounding from a revised 3.6 percent contraction in the previous month. Output rebounded for industrial activities (24.9 percent vs -5.9 percent in February), primary activities (4.0 percent vs -9.4 percent) and services (10.2 percent vs -1.8 percent). On a monthly basis, economic activity jumped 6.1 percent in March, following a 0.9 percent gain in the prior month.
Colombia Economy Unexpectedly Expands in Q1
Colombia’s economy expanded 1.1 percent year-on-year in the first quarter of 2021, following a 3.6 percent drop in the previous period and against market expectations of a 1 percent contraction. It was the first expansion since the COVID-19 outbreak, as manufacturing production rebounded sharply (7.0 percent vs -0.2 percent in Q4) while output advanced further for public administration, defence, education, and health (3.5 percent vs 2.6 percent) and agriculture (3.3 percent vs 2.4 percent). On a seasonally adjusted quarterly basis, the GDP grew 2.9 percent, following a revised 6.1% gain in the previous quarter.
Ecuador Trade Surplus Shrinks in March
Ecuador’s trade surplus shrank to USD 43.5 million in March of 2021 from USD 62.5 million in the corresponding month of the previous year. Imports soared 34.5 percent over a year earlier to USD 2,049 million, due to low baseline effects from the pandemic outbreak, driven by steep increases in the purchases of consumption goods (34.8 percent), particularly durables (50.2 percent), and of raw materials (36.3 percent) and capital goods (20.2 percent). Exports surged by 32.0 percent to USD 2,093 million, boosted by a rise in the sales of primary goods (31.5 percent), namely crude oil (115.4 percent), and of manufactured goods (33.9 percent).