Colombia Industry June 2017

Colombia

Colombia: Industrial production declines for third consecutive month in June

August 14, 2017

Industrial production contracted for a third consecutive month in June, declining a further 1.9% on the heels of May’s revised 0.8% contraction (previously reported: -0.6% year-on-year). Colombia’s National Administrative Department of Statistics (DANE) reported mixed performances across sectors, with 20 of the 39 sectors surveyed reporting contractions in the month. Declines in the beverage-processing and textiles sectors drove May’s overall contraction. On the other hand, growth in the highly-important energy sector—notably in oil refining and fuel mixing—was recorded in the month.

As a result of June’s drop and an all-around dismal Q2, annual average growth in industrial production decreased from 1.0% in May to 0.3% in June—a nearly two-year low.

Panelists surveyed for this month’s LatinFocus report expect industrial production to expand 2.3% in 2017, which is unchanged from last month’s forecast. For 2018, the panel expects industrial production to increase 2.9%.


Author:, Economist

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Colombia Industry June 2017

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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