Production, Sales, Work Started and Orders: Retail Trade Volume: Economic Activity: Retail Trade, Except of Motor Vehicles and Motorcycles for Colombia
COLSLRTTO01IXOBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
125.22
Year-over-Year Change
-3.89%
Date Range
1/1/2013 - 3/1/2024
Summary
This economic trend measures retail trade volume in Colombia, excluding motor vehicles and motorcycles. It provides valuable insights into the health and dynamics of the broader retail sector, which is a key driver of economic growth.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Retail Trade Volume index tracks changes in the total value of retail sales, serving as an important indicator of consumer demand and confidence. Economists and policymakers closely monitor this metric to assess the state of the Colombian economy and inform economic decision-making.
Methodology
The data is collected through surveys of retail establishments and calculated as an index with a base year of 2015.
Historical Context
This trend is widely used to analyze consumption patterns, guide monetary and fiscal policies, and evaluate the broader performance of the Colombian economy.
Key Facts
- The base year for the Retail Trade Volume index is 2015.
- Retail trade accounts for approximately 10% of Colombia's GDP.
- The index is published monthly by the Colombian National Administrative Department of Statistics (DANE).
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of retail sales in Colombia, excluding motor vehicles and motorcycles. It provides an indicator of consumer demand and economic activity in the retail sector.
Q: Why is this trend relevant for users or analysts?
A: The Retail Trade Volume index is a key indicator of consumer spending and confidence, which are important drivers of economic growth. Monitoring this trend helps economists and policymakers assess the state of the Colombian economy and make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments and calculated as an index with a base year of 2015.
Q: How is this trend used in economic policy?
A: The Retail Trade Volume index is widely used by economists, policymakers, and market analysts to analyze consumption patterns, guide monetary and fiscal policies, and evaluate the broader performance of the Colombian economy.
Q: Are there update delays or limitations?
A: The index is published monthly by the Colombian National Administrative Department of Statistics (DANE), with a typical release delay of 4-6 weeks.
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Citation
U.S. Federal Reserve, Production, Sales, Work Started and Orders: Retail Trade Volume: Economic Activity: Retail Trade, Except of Motor Vehicles and Motorcycles for Colombia (COLSLRTTO01IXOBM), retrieved from FRED.