Economic Indicator Briefing - Colombia - Industrial Production
Country:
Colombia
Indicator:
Industrial Production
Period:
September 2008
Reading:
-3.3% year-on-year
Previous reading:
August 2008
-9.2% year-on-year
-9.2% year-on-year
Released on:
21 November
Next release:
22 December
Industrial production contracts for second consecutive quarter
In September, industrial production contracted 3.3% over the same month last year, which represented an improvement compared to the 9.2% contraction registered in August (previously reported: -8.8% year-on-year).
The September contraction was broad-based, with 28 of 48 production categories losing ground over the same month the year before. That said, the main drivers of the September contraction were strong declines in vehicle manufacturing and sugar production.
| Industrial Production, Sept. 2007 - Sept. 2008 |
 |
| Note: Year-on-year and annual average variation of industrial production index in %. Source: Departamento Administrativo Nacional de Estadísticas (DANE) and LatinFocus calculations. |
As a result of the weak September reading, industrial production contracted 4.0% annually in the third quarter, down from the 0.6% contraction registered in the second quarter. Furthermore, annual average growth in industrial production continued to decline, falling from 2.0% in August to 1.2%, which represented the slowest pace in more than five years.
Forecasts: This indicator is covered in the FocusEconomics Consensus Forecast. For 5-year projections, including quarterly forecasts for the next two years, please visit our Online Store.
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Published on 09 June 2009:
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