Colombia Industry March 2018

Colombia

Colombia: Industrial production contracts in March

May 11, 2018

According to data released by Colombia’s National Administrative Department of Statistics (DANE) on 11 May, industrial production contracted 1.4% over the same month of the previous year in March. This contrasted a revised 1.5% year-on-year expansion in February.

A breakdown of the data shows that 26 out of the 39 industrial activities recorded a decline, while the remaining 13 registered an expansion. March’s reading was due to notable, double-digit declines in the manufacture of non-metallic mineral products, manufacture of pharmaceutical products, and manufacture of soaps and detergents, perfumes and toilet preparations. In contrast, a stellar rise in the preparation of sugar and panela, and strong growth in preparation of beverages and coking, oil refining and fuel blending have eased the downturn somewhat.

Annual average growth in industrial production edged up to minus 0.7% in March from minus 0.2% in February.

Panelists surveyed for this month’s LatinFocus report expect industrial production to expand 2.3% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, the panel expects industrial production to increase 2.5%.


Author:, Economist

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Colombia Industry March 2018 0

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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