Colombia PMI August 2021

Colombia

Colombia: Manufacturing PMI moderates in August; conditions continue to improve

September 2, 2021

The seasonally-adjusted Manufacturing Purchasing Managers' Index (PMI)—produced by IHS Markit and Davividenda—came in at 53.2 in August, down from July's one-year high of 54.2. As such, the index remained above the 50-threshold, pointing to a continued, albeit moderating, improvement in business conditions from the previous month.

August’s moderation was largely due to factory orders expanding at a milder rate in August. Output grew for the second month running—albeit at a milder rate than in July—underpinned by continued sales increase. Meanwhile, backlogs of work rose at a record pace in August, due to the combination of increased sales and shortages of staff and raw materials. Consequently, firms increased staff levels at the sharpest rate in over five-and-a-half years. On the price front, input costs continued its upward trend due to raw material shortages; overall cost inflation quickened to the third-highest rate on record amid unfavorable exchange rates, shipping container scarcity and logistical issues. Lastly, producers remained optimistic over output increases in the coming 12 months.

Industrial production is seen growing 10.4% in 2021, which is unchanged from last month’s forecast. In 2022, our panel sees industrial production growth at 3.2%.


Author:, Junior Economist

Sample Report

Looking for forecasts related to PMI in Colombia? Download a sample report now.

Download

Colombia PMI Chart


Colombia PMI August 2021

Note: Purchasing Managers’ Index. Readings above 50 indicate an overall increase compared to the previous month and readings below 50 an overall decrease.
Source: Davivienda and IHS Markit.


Colombia Economic News

More news

Search form