Colombia: Industrial output grows at fastest pace in ten months in December
Industrial output increased 1.5% compared to the same month of the previous year in December 2020, contrasting November’s 0.2% drop and marking the best result since February 2020. December’s result reflected a relatively broad-based improvement, with 26 of 39 subsectors reporting growing output in December, as opposed to 17 subsectors with rising production in November. Looking at the details of the press release, December’s upturn was largely driven by higher output of metal products, as well as a stronger growth in the manufacturing of plastic products.
Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 8.0%, down from November’s minus 7.8% reading.