Clear calculations: What households bought in an economic recovery – sectors – the economy


Household consumption acted as a cushion that prevented further downturn in the economy in 2020. Said consumption decreased 2.1% in the year, while the overall economy decreased 6.8%.

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The recovery between the second and fourth quarters was significant, when household consumption recovered 15 percent. In this rebound, durable goods increased by 57 percent and semi-durable goods by 50 percent.

Online games and poverty line

With the money awarded last year in the country in the form of online games of chance and chance awards, all Colombians living in this state can live 9 months above poverty.

There are 17.5 million people living below the poverty line, and according to Coljuegos, the prizes awarded have reached 7.7 billion pesos. With a million dollar income, a family of 3 can conquer poverty.

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How are the new housing increases going?

The increases in new home prices ended moderately in 2020. At the beginning of 2019, new homes registered annual increases of 8.3 percent.

At the start of 2020, the increases were 4.8 percent. In the fourth quarter of last year, prices rose 2.95 percent annually. Moreover, if inflation is discounted, the real increase in new home prices was 1.34 percent at the end of 2020.

Unemployment in Bogotá, at the level of Quibdó

In January, unemployment in Colombia rose again, mainly driven by the destruction of jobs in Bogota.

In the November-January quarter, the highest urban unemployment rate was Quibdó, with 21.5%, and Bogotá 17.6%. But only in January, with half a million jobs lost compared to January 2020, unemployment in Bogotá reached 21.6 percent.

Mauricio Galindo
EL TIEMPO Economics Editor
In Twitter: galmau

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