Colombia Industrial production May 2022

Colombia

Colombia: Manufacturing production grows at fastest pace since April 2021 in May

July 15, 2022

Manufacturing output grew 46.2% in year-on-year terms in May, which was above April's 13.7% increase. May's result marked the best result since April 2021. May's upturn came on the back of upturns in production of beverages and refined petroleum products.

Meanwhile, annual average manufacturing output growth rose to 17.2% in May (April: +14.6%), signaling an improving trend in the manufacturing sector.

FocusEconomics Consensus Forecast panelists expect manufacturing output to expand 5.5% in 2022, which is down 0.1 percentage points from last month’s forecast. For 2023, panelists see manufacturing output growing 2.4%.


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Colombia Manufacturing May 2022 0

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


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