In March, industrial production (excluding coffee threshing) rose 9.8% over the same month last year, which was notably up from the 3.3% expansion recorded in February. The increase overshot the 8.9% expansion that market analysts had expected and marked the highest growth rate since April 2008. The monthly figure reflects increases in 40 of the index's 44 sub-categories, with production of vehicles, beverages and sugar contributing the most to the expansion. Annual average variation in industrial production rose from minus 1.1% in February to 0.7% in March, which marked the highest reading since October 2012. LatinFocus Consensus Forecast participants expect that industrial production will expand 2.6% in 2014, which is down 0.1 percentage points from last month's forecast. For 2015, the panel expects industrial production to increase 3.5%.
Industrial production accelerates to highest pace in over six years
May 15, 2014
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Colombia Industry Chart
Note: Year-on-year changes of industrial production and annual average growth rate in %.
Source: Colombia National Statistical Institute (DANE) and FocusEconomics calculations.
Colombia Economic News
October 7, 2016
In what was a narrow and shocking result, Colombians rejected the peace agreement between the government and the FARC at the 2 October referendum.
September 30, 2016
In August, exports grew 7.0% over the same month last year, which sharply contrasted the 27.3% plunge recorded in July.
September 30, 2016
The seven-member board of the Central Bank (BanRep) unanimously decided to keep the reference interest rate unchanged at 7.75% at its 30 September monetary policy meeting.
September 16, 2016
Industrial production unexpectedly shrank 6.2% annually in July, which contrasted the 6.7% increase seen in June.
September 5, 2016
The Colombian economy continues to adjust to low oil prices two years after they first started to collapse.