Colombia: Industrial production contracts in February for second consecutive month
April 17, 2017
In February, industrial production declined 3.2% annually, which followed the 0.3% contraction observed in January and marked the worst result since July 2016. According to DANE, February’s decline was broad-based as it reflected decreases in 28 out of the 39 components of the industrial production index. The beverages category was the main factor behind February’s contraction in industrial output.
As a result of February’s steeper contraction, annual average growth in industrial production fell from 3.2% in January to 2.5%.
Author: Luis Lopez Vivas, Economist