In June, industrial production excluding coffee threshing rose 2.2% over the same month last year, which was below the revised 4.2% growth observed in May (previously reported: +4.3% year-on-year). The June increase was mainly driven by strong growth in non-metallic mineral commodities as well as in other chemical products, which was partially offset by a sharp contraction in the automobile industry. Nonetheless, 26 out of 48 components recorded gains in production. A month-on-month analysis corroborates the deceleration seen in the annual figures, as industrial production contracted 4.2% over the previous month (May: +7.8% month-on-month). Owing to the monthly slowdown, the trend continued to point downwards, with annual average growth in industrial production easing from 4.2% in May to 3.7% in June. The Central Bank expects GDP to grow between 4.5% and 6.5% this year, with a 5.5% expansion as the most likely outturn.
Industrial production slows in June
August 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.
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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.