Colombia: Industrial production decelerates in September
November 21, 2011
In September, industrial production (excluding coffee threshing) rose 5.2% over the same month last year, which was below the revised 9.7% jump observed in August (previously reported: +9.5% year-on-year). The September outturn was mainly driven by strong growth in both the other manufactured transportation equipment and manufacturing at sugar refineries and mills categories. According to the press release, 30 of the 48 components recorded gains in production A month-on-month analysis corroborates the deceleration seen in the annual figures, as industrial production contracted 0.2% over the previous month (August: +7.0% month-on-month). Despite the subdued monthly reading, the trend pointed upwards, with annual average growth in industrial production rising from 4.5% in August to 4.7% in September. The Central Bank expects GDP to grow between 5.0% and 6.0% this year. In 2012, the monetary authority sees GDP expanding between 4.0% and 6.0%.