Colombia Industrial production August 2021

Colombia

Colombia: Industrial output growth gains steam in August

October 15, 2021

Industrial output growth accelerated to a four-month high of 22.9% year-on-year in August (July: +20.0% yoy). Looking at the details of the release, output grew in 37 of the 39 total subsectors, matching July’s result. That said, August’s higher growth was due to both beverage production and clothing manufacturing expanding at markedly higher rates in August than in July.

Meanwhile, the trend improved markedly, with annual average variation of industrial production growth rising to 10.5% in August (July: +7.5%).

FocusEconomics Consensus Forecast panelists expect industrial output to expand 10.5% in 2021, which is up 1.4 percentage points from last month’s forecast. For 2022, panelists see industrial output growing 3.7%.


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Colombia Industry August 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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