Colombia: Industrial production declines again in September
November 20, 2013
In September, industrial production (excluding coffee threshing) fell 1.8% over the same month last year. This figure follows the 3.9% contraction tallied in August and marks the fourth contraction in output in the last five months. The decline exceeded the 0.6% fall that market analysts had expected. The monthly figure reflects deterioration in more than half of the index's sub-categories, with production of vehicles as well as precious metals and non-ferrous metals recording the largest contractions.
Consequently, the downward trajectory that began in early 2012 continued, excluding a brief uptick in April. Annual average variation in industrial production inched down from minus 2.4% in August to minus 2.5% in September.
LatinFocus Consensus Forecast participants expect that industrial production will decline 0.2% in 2013, which is down 0.4 percentage points from last month's forecast. For 2014, the panel expects industrial production to rise 3.1%, which is down 0.1 percentage points over the previous month's estimate.