In May, industrial production excluding coffee threshing rose 4.3% over the same month last year, which was above the revised 1.6% growth observed in April (previously reported: +2.0% year-on-year). The May expansion was mainly driven by strong growth in the automobile industry as well as in other chemical products, which were partially offset by contractions in basic precious and non-ferrous metals. That said, 33 out of 48 components recorded gains in production. A month-on-month analysis corroborates the acceleration seen in the annual figures, as industrial production expanded 7.8% over the previous month (April: -9.0% month-on-month). In spite of the monthly expansion, the trend continued to slow, with annual average growth in industrial production easing from 4.5% in April to 4.2% in May. The Central Bank has upped its GDP growth forecast from a range of 4.0% to 6.0% to between 4.5% and 6.5%, with a 5.5% expansion as the most likely outturn.
Industrial production picks up in May
July 19, 2011
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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.