Colombia: Industrial production accelerates to highest pace in 10 months
April 15, 2014
In February, industrial production (excluding coffee threshing) rose 2.8% over the same month last year, contrasting the 0.1% contraction recorded in January. The increase overshot the 1.2% expansion that market analysts had expected and marked the highest growth rate since April 2013. The monthly figure reflects increases in more than half of the index's sub-categories, with production of sugar and other food products recording the largest expansion.
Annual average variation in industrial production rose from minus 1.7% in January to minus 1.1% in February, the highest reading since January 2013.
LatinFocus Consensus Forecast participants expect that industrial production will expand 2.7% in 2014, which is down 0.1 percentage points from last month's forecast. For 2015, the panel expects industrial production to increase 3.3%.
Author: Armando Ciccarelli, Head of Data Solutions