Colombia Industrial production July 2021

Colombia

Colombia: Industrial output growth ebbs in July

September 15, 2021

Industrial output grew 20.1% year-on-year in July (June: +20.8% yoy); the slowdown was partly due to a less favorable base effect. Looking at the details of the release, July’s softer growth came despite output expanding in 37 of the 39 total subsectors, as opposed to 35 subsectors in June. Beverage production grew at a quicker pace in July than in June, but this was more than offset by a softer expansion in clothing manufacturing.

Meanwhile, the trend pointed up, with annual average variation of industrial production growth rising to 7.6% in July (June: +5.1%).

FocusEconomics Consensus Forecast panelists expect industrial output to expand 9.1% in 2021, which is down 1.3 percentage points from last month’s forecast. For 2022, panelists see industrial output growing 3.2%.


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Colombia Industry July 2021 0

Note: Year-on-year changes and annual average growth rate of industrial production index in %.
Source: Colombia National Statistical Institute (DANE) and FocusEconomics calculations.


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