Colombia: Industrial production contracts in March
According to data released by Colombia’s National Administrative Department of Statistics (DANE) on 11 May, industrial production contracted 1.4% over the same month of the previous year in March. This contrasted a revised 1.5% year-on-year expansion in February.
A breakdown of the data shows that 26 out of the 39 industrial activities recorded a decline, while the remaining 13 registered an expansion. March’s reading was due to notable, double-digit declines in the manufacture of non-metallic mineral products, manufacture of pharmaceutical products, and manufacture of soaps and detergents, perfumes and toilet preparations. In contrast, a stellar rise in the preparation of sugar and panela, and strong growth in preparation of beverages and coking, oil refining and fuel blending have eased the downturn somewhat.
Annual average growth in industrial production edged up to minus 0.7% in March from minus 0.2% in February.