Colombia Industry


Industrial production contracts the most in over three years

In November, industrial production (excluding coffee threshing) fell 4.1% over the same month the year before, which marked the sharpest contraction since July 2009. The print contrasted the revised 1.3% rise observed in October (previously reported: +1.2% year-on-year) and exceeded market expectations of a 1.0% contraction. The monthly figure reflected decreases in 33 out of the 48 sub-sectors composing the index, with textile output and production of non-metallic minerals recording the largest losses.

Building on the November drop, the trend continues to point downwards, with annual average variation in industrial production falling from 1.2% in October to 0.4%.

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Colombia Industry Chart

Colombia Industry November 2012

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

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