Colombia: Industrial production accelerates to highest pace in over six years
May 15, 2014
In March, industrial production (excluding coffee threshing) rose 9.8% over the same month last year, which was notably up from the 3.3% expansion recorded in February. The increase overshot the 8.9% expansion that market analysts had expected and marked the highest growth rate since April 2008. The monthly figure reflects increases in 40 of the index's 44 sub-categories, with production of vehicles, beverages and sugar contributing the most to the expansion. Annual average variation in industrial production rose from minus 1.1% in February to 0.7% in March, which marked the highest reading since October 2012. LatinFocus Consensus Forecast participants expect that industrial production will expand 2.6% in 2014, which is down 0.1 percentage points from last month's forecast. For 2015, the panel expects industrial production to increase 3.5%.
Author: Armando Ciccarelli, Head of Data Solutions