In January, industrial production (excluding coffee threshing) rose a mild 0.1% over the same month last year. This increase followed the 1.6% rise recorded in December, which had marked the largest expansion since April 2013. The increase undershot the 1.2% expansion that market analysts had expected. The monthly figure reflects increases in more than half of the index's sub-categories, with production of sugar recording the largest expansion. Conversely, production of automobiles fell a sharp 33.8% in January. Despite the deceleration tallied in January, annual average variation in industrial production inched up from minus 1.7% in December to minus 1.6% in January, the highest print in eight months. LatinFocus Consensus Forecast participants expect that industrial production will expand 2.8% in 2014, which is unchanged from last month's forecast. For 2015, the panel expects industrial production to increase 3.3%.
Industrial production decelerates sharply in January
March 17, 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.
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In August, exports grew 7.0% over the same month last year, which sharply contrasted the 27.3% plunge recorded in July.
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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.
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The Colombian economy continues to adjust to low oil prices two years after they first started to collapse.