Colombia Industry

Colombia

Colombia: Industrial production contracts at largest pace in eight months

June 17, 2014

In April, industrial production (excluding coffee threshing) dropped 2.2% over the same month last year, which contrasted the 9.2% expansion recorded in March. The drop overshot the 1.6% contraction that market analysts had expected and marked the lowest growth rate since August 2013. The monthly figure reflects decreases in 26 of the index’s 44 sub-categories, with chemical products and petroleum refining contributing the most to the contraction.

Annual average variation in industrial production swung from plus 0.8% in March to minus 0.1% in April.

LatinFocus Consensus Forecast participants expect that industrial production will expand 2.7% in 2014, which is up 0.1 percentage points from last month’s forecast. For 2015, the panel expects industrial production to increase 3.5%.


Author: Teresa Kersting, Economist

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Colombia Industry Chart


Colombia Industry April 2014

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


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