Box 1 - A Transportation Services Indicator to measure Colombian Economic Activity - Monetary Policy Report - April 2024
The Monetary Policy Report presents the Bank's technical staff's analysis of the economy and the inflationary situation and its medium and long-term outlook. Based on it, it makes a recommendation to the Board of Directors on the monetary policy stance. This report is published on the second business day following the Board of Directors' meetings in January, April, July, and October.
Transportation services play a critical role across all sectors of the economy by facilitating the movement of goods and services at all production levels. Although not all goods produced in a country require transportation due to inventory accumulation in industries and businesses or because certain services do not require physical transport; the dynamic of the transportation sector can provide valuable insights into economic activity trends during specific periods (e.g., Google’s mobility indicators during the COVID-19 pandemic).
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