Colombia Industrial production April 2020

Colombia

Colombia: Industrial activity contracts at sharpest pace on record in April

June 12, 2020

Industrial production declined a notable 35.8% year-on-year in April (March: -8.7% yoy). April's figure marked the worst reading on record and came amid shutdown measures to contain the Covid-19 health crisis. According to DANE, the reading was largely broad-based, with 33 of 39 subsectors reporting falling output.

Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.1%, down from March's plus 0.7%.

FocusEconomics Consensus Forecast panelists expect industrial output to contract 5.9% in 2020, which is down 1.2 percentage points from last month’s forecast. For 2021, panelists expect industrial output growth of 4.0%.


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Colombia Industry April 20 20

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


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