Colombian Economy Missed Nearly All Second Quarter Forecasts
Gross domestic product grew 2.1% from a year earlier, the national statistics agency said Friday. The result was lower than forecast by all but one of 22 economists in a Bloomberg survey, whose median forecast was 2.7%.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNN
an hour ago
- CNN
Polls open in Bolivia's national elections that could end decades of socialist rule
After a lackluster campaign overshadowed by a looming economic collapse, Bolivians voted on Sunday for a new president and parliament in elections that could see a right-wing government elected for the first time in over two decades. The vote, which could spell the end of the Andean nation's long-dominant leftist party, is one of the most consequential for Bolivia in recent times - and one of the most unpredictable. In the run-up to Sunday, a remarkable 30% or so of voters remained undecided. Polls showed the two leading right-wing candidates, multimillionaire business owner Samuel Doria Medina and former President Jorge Fernando 'Tuto' Quiroga, locked in a virtual dead heat. Voting is mandatory in Bolivia, where some 7.9 million Bolivians are eligible to vote. 'I have rarely, if ever, seen a situational tinderbox with as many sparks ready to ignite,' said Daniel Lansberg-Rodriguez, founding partner of Aurora Macro Strategies, a New York-based advisory firm. A right-wing victory isn't assured. Many longtime voters for the governing Movement Toward Socialism, or MAS, party, now shattered by infighting, live in rural areas and tend to be undercounted in polling. With the nation's worst economic crisis in four decades leaving Bolivians waiting hours in fuel lines, struggling to find subsidized bread and squeezed by double-digit inflation, the opposition candidates bill the race as a chance to alter the country's destiny. 'I have rarely, if ever, seen a situational tinderbox with as many sparks ready to ignite,' said Daniel Lansberg-Rodriguez, founding partner of Aurora Macro Strategies, a New York-based advisory firm. The outcome will determine whether Bolivia — a nation of about 12 million people with the largest lithium reserves on Earth and crucial deposits of rare earth minerals — follows a growing trend in Latin America, where right-wing leaders like Argentina's libertarian Javier Milei, Ecuador's strongman Daniel Noboa and El Salvador's conservative populist Nayib Bukele have surged in popularity. A right-wing government in Bolivia could trigger a major geopolitical realignment for a country now allied with Venezuela's socialist-inspired government and world powers such as China, Russia and Iran. Doria Medina and Quiroga have praised the Trump administration and vowed to restore ties with the United States — ruptured in 2008 when charismatic, long-serving former President Evo Morales expelled the American ambassador. The front-runners also have expressed interest in doing business with Israel, which has no diplomatic relations with Bolivia, and called for foreign private companies to invest in the country and develop its rich natural resources. After storming to office in 2006 at the start of the commodities boom, Morales, Bolivia's first Indigenous president, nationalized the nation's oil and gas industry, using the lush profits to reduce poverty, expand infrastructure and improve the lives of the rural poor. After three consecutive presidential terms, as well as a contentious bid for an unprecedented fourth in 2019 that set off popular unrest and led to his ouster, Morales has been barred from this race by Bolivia's constitutional court. His ally-turned-rival, President Luis Arce, withdrew his candidacy for the MAS on account of his plummeting popularity and nominated his senior minister, Eduardo del Castillo. As the party splintered, Andrónico Rodríguez, the 36-year-old president of the senate who hails from the same union of coca farmers as Morales, launched his bid. Rather than back the candidate widely considered his heir, Morales, holed up in his tropical stronghold and evading an arrest warrant on charges related to his relationship with a 15-year-old girl, has urged his supporters to deface their ballots or leave them blank. Voting is mandatory in Bolivia, where some 7.9 million Bolivians are eligible to vote. President Arce appealed to the population to reject Morales' calls, arguing that those spoiling their ballots were doing damage to democracy. 'We urge the population to go out and vote,' he said while casting his vote in Bolivia's capital of La Paz. 'We must demonstrate unity and commitment to democracy.' Doria Medina and Quiroga, familiar faces in Bolivian politics who both served in past neoliberal governments and have run for president three times before, are struggling to stir up interest as voter angst runs high. 'There's enthusiasm for change but no enthusiasm for the candidates,' said Eddy Abasto, 44, a Tupperware vendor in La Paz torn between voting for Doria Medina and Quiroga. 'It's always the same, those in power live happily spending the country's money, and we suffer.' Whoever wins faces daunting challenges. Doria Medina and Quiroga have warned of the need for a painful fiscal adjustment, including the elimination of Bolivia's generous food and fuel subsidies, to save the nation from insolvency. Some analysts caution this risks sparking social unrest. 'A victory for either right-wing candidate could have grave repercussions for Bolivia's Indigenous and impoverished communities,' said Kathryn Ledebur, director of the Andean Information Network, a Bolivian research group. 'Both candidates could bolster security forces and right-wing para-state groups, paving the way for violent crackdowns on protests expected to erupt over the foreign exploitation of lithium and drastic austerity measures.' All 130 seats in Bolivia's Chamber of Deputies, the lower house of Parliament, are up for grabs, along with 36 in the Senate, the upper house. If, as is widely expected, no one receives more than 50% of the vote, or 40% of the vote with a lead of 10 percentage points, the top two candidates will compete in a runoff on Oct. 19 for the first time since Bolivia's 1982 return to democracy.
Yahoo
3 hours ago
- Yahoo
Texas breaks jobs record, again outpaces national growth rate in July
(The Center Square) – Texas broke jobs records again in July and again outpaced the national growth rate, according to new data released by the Texas Workforce Commission. Texas again set new records in July for having the greatest total nonfarm jobs and greatest number of Texans working in state history. Texas' nonfarm jobs totaled 14,333,800 in July after adding 8,700 positions over the month. Over the year, Texas added 232,500 jobs for an annual nonfarm growth rate of 1.6%, outpacing the national growth rate by 0.6%. Texas also reached a new high for the number of Texans working, including the self-employed, of 15,213,700 in July. 'Texas continues to see sustained job growth thanks to having the best business climate in America and the productivity of hardworking Texans,' Gov. Greg Abbott said. 'With more Texans working than ever before, we must ensure Texans across our great state have access to the tools and training needed to secure better jobs and bigger paychecks.' This year the legislature passed bills expanding career training programs, which Abbott signed into law. Last week, more than $1.6 million was awarded in Jobs and Education for Texans grants to support career and technical education training programs in South Texas. Last month, Texas' civilian labor force totaled 15,848,800, representing a decrease of 1,400 people over the month. Over the year, 195,900 people were added. There was a slight dip in the labor force last month, including in the oil and natural gas industry. Despite this, 'Texas continues to create jobs, a testament to the resilience of our workforce,' TWC Commissioner Representing Labor Alberto Treviño III said. 'TWC is working hard to ensure all Texans have access to the tools and training they need to seize these new opportunities, build skills, and find meaningful work in thriving communities across our state.' The Trade, Transportation, and Utilities industry reported the largest over-the-month increase in July after adding 5,500 jobs. Professional and Business Services added 3,800 jobs; Construction added 2,800. The Construction industry also grew by 3.2% over the year, outperforming the industry's growth rate nationally by 2%. 'Texas continues to foster job growth across a wide range of industries,' TWC Commissioner Representing Employers Joe Esparza said. 'TWC works every day to ensure that the workforce powering our economy is trained, supported, and ready to grow alongside the businesses that call Texas home.' Last month, the not seasonally adjusted employment rate increased nationally and in Texas. Texas' 4.2% rate was lower than the national rate of 4.6%. The Midland Metropolitan Statistical Area reported the lowest not seasonally adjusted unemployment rate of 3.1% in July, followed by Amarillo and San Angelo MSAs' 3.2% each. The MSAs with the highest rate were Eagle Pass' 9.4%, Brownsville-Harlingen's 7.3% and McAllen-Edinburgh-Mission's 6.7%, according to the data. Texans impacted by the July floods in designated disaster areas are encouraged to apply for Disaster Unemployment Assistance online or by calling the TWC at 800-939-6631. The application deadline is Sept. 4. Solve the daily Crossword
Bloomberg
4 hours ago
- Bloomberg
Politicians Descended on the Iowa State Fair
Politicians descended on the Iowa State Fair to meet constituents and sell them on Trump's One Big Beautiful Bill. Bloomberg's Erik Wasson went to the fair too. (Source: Bloomberg)
