Colombia Industrial production November 2020

Colombia

Colombia: Decline in industrial activity softens in November

January 18, 2021

Industrial output decreased 0.2% in annual terms in November, dropping at a weaker rate than October's 2.6% decline and logging the softest contraction in the year. November’s softer downturn was chiefly driven by a milder drop in clothing, and automotive and engine manufacturing. However, November’s drop remained broad-based, with 22 of 39 subsectors reporting falling output.

Accordingly, the trend improved, with the annual average variation of industrial production coming in at minus 7.8% in November, up from October's minus 8.0%.

FocusEconomics Consensus Forecast panelists expect industrial output to expand 6.5% in 2021, which is up 1.1 percentage points from last month’s forecast. For 2022, panelists see industrial output growing 3.8%.


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Colombia Industry November 20 20

Note: Year-on-year changes and annual average growth rate of industrial production index in %.
Source: Colombia National Statistical Institute (DANE) and FocusEconomics calculations.


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