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The m/o/m decline of 0.3% points to a gradual slowdown in the Colombian economy.

Sectorially, financials (94.1%) are the top pick followed by Energy (82.4%), while oil has dropped away to 35.3%.

The big question on most investors' lips is 'Does Colombia have inflation under control?'

On the bright side GDP expectations continue to improve. In March the FY2022 consensus is at 4.5%, above the 4.2% of February.

The order backlog for Tecnoglass includes 20 of the 22 tallest skyscrapers currently under construction or planning to break ground in South Florida.

It's hard not to be happy when your President announces from Brussels that 2021 growth will be at least 10.2% in 2021

When taken in conjunction with the big decline in Consumer Confidence which was reported a fortnight ago, there are reasons for concern.

Amidst an environment where we see both analysts and overseas agents increasing their growth recommendations for both 2021 & 2022.

We have seen a slight rebound over recent sessions as the peso recovers from the perfect storm of a lost investment grade, a wobbly oil price and forthcoming elections. Another major factor for the peso will be exports and there was good news on that front for July.

On a more optimistic note, the MSCI COLCAP finally appears to be gaining a foothold in 2021, we are no longer bottom of the pile and for foreigners in particular, there are bargains to be had.