Colombia: Industrial production declines in August
October 22, 2012
In August, industrial production (excluding coffee threshing) contracted 1.9% over the same month last year. The figure contrasted both the revised 2.7% expansion observed in July (previously reported: +1.5% year-on-year) as well as market expectations of a 2.6% rise. The monthly figure reflected contractions in 26 out of the 48 sub-sectors composing the index, with production of chemical products, electrical machinery as well as oil refining activities recording the largest losses. As a result of the August contraction, the trend continues to point downwards, with annual average variation in industrial production falling from 3.0% in July to 2.0%.