Colombia: Industrial output drops again in May
Industrial production dropped 26.2% year-on-year in May, marking the second worst reading on record after April’s 35.8% plunge. The contraction was broad-based as drops were recorded across 34 of 39 subsectors amid shutdown measures to contain the Covid-19 health crisis and a stalled global economy.
Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 4.6%, down from April’s minus 2.1% reading.