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Colombia Industrial production March 2021

Colombia: Industrial output jumps in March

Industrial output jumped 20.7% year-on-year in March, notably above February’s 0.5% rise and logging the best reading on record. However, a supportive base effect flattered the result. March’s print reflected expanding output in 36 of 39 subsectors, as opposed to 19 subsectors with growing production in February. Looking at the details of the press release, March’s upturn largely reflected a quicker growth of manufacturing non-metallic mineral products and of electrical appliances and equipment, as well as increased processing of beverages.

Accordingly, the trend improved markedly, with the annual average variation of industrial production coming in at minus 6.4% in March, following February’s minus 8.6% reading.

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