l Economic analysis
In Colombia, according to DANE and DIAN, the country's foreign sales in January 2023 were US$3.694,9 million FOB, a -2,8% drop compared to January 2022. This result was primarily due to the -4,5% drop in foreign sales of the Fuels group. This week, we will see high-frequency reports on consumer confidence during February and on industrial and manufacturing production, retail sales, the economic activity monitoring index, imports, and the trade balance for January. It will also be interesting to observe the Banrep survey for March. Internationally, attention will be focused on the February inflation report in the US and the ECB's monetary policy decision, where we expect a +50 bp increase in the reference rate.
