Colombia Industrial production September 2020

Colombia

Colombia: Industrial output falls at less pronounced pace in September

November 13, 2020

Industrial activity declined at a significantly softer pace of 3.0% in annual terms in September, following August’s 10.3% dive and marking the best reading since February. September’s weaker contraction was largely attributed to softer drops in the manufacturing of travel accessories and the processing of textile products, as well as to rebounding output in the processing of wood products and the manufacturing of electrical equipment. That said, September’s decline remained broad-based with 28 of 39 subsectors reporting falling output.

Meanwhile, the trend deteriorated slightly, with the annual average variation of industrial production coming in at minus 7.6% in September, down from August’s minus 7.3%.

FocusEconomics Consensus Forecast panelists expect industrial output to expand 5.3% in 2021, which is up 0.8 percentage points from last month’s forecast. For 2021, panelists see industrial output growing 3.5%.


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Colombia Industry September 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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