Colombia: Manufacturing activity records lowest expansion since February 2021 in July
Manufacturing output rose 5.2% year on year in July (June: +12.4% yoy). The result marked the worst reading since February 2021. The slowdown was largely driven by deteriorations in the growth of the production of paper, carton and related products; and in production of soaps, detergents, perfumes and related products. The only sector whose contribution to industrial growth significantly increased was the iron and steel industry.
Meanwhile, the trend pointed down, with the annual average growth of manufacturing production coming in at 15.3%, down from June’s 16.6% reading.