Colombia: Industrial production contracts at softer pace in February
April 14, 2015
In February, industrial production shrank 1.3% over the same month of the previous year, which was a softer contraction than the 4.4% drop recorded in January but fell slightly short of market expectations of a milder 1.1% decline. The print reflected decreases in 15 of the index’s 39 sub-categories. Contractions in coking, oil refining and fuel production as well as spinning and weaving were mainly behind the overall decline.LatinFocus Consensus Forecast participants expect that industrial production will expand 2.5% in 2015, which is down 0.3 percentage points from last month’s forecast. For 2016, the panel expects industrial production to increase 3.5%.