Colombia: Industrial production decelerates sharply in January
March 17, 2014
In January, industrial production (excluding coffee threshing) rose a mild 0.1% over the same month last year. This increase followed the 1.6% rise recorded in December, which had marked the largest expansion since April 2013. The increase undershot the 1.2% expansion that market analysts had expected. The monthly figure reflects increases in more than half of the index's sub-categories, with production of sugar recording the largest expansion. Conversely, production of automobiles fell a sharp 33.8% in January. Despite the deceleration tallied in January, annual average variation in industrial production inched up from minus 1.7% in December to minus 1.6% in January, the highest print in eight months. LatinFocus Consensus Forecast participants expect that industrial production will expand 2.8% in 2014, which is unchanged from last month's forecast. For 2015, the panel expects industrial production to increase 3.3%.