Colombia Industry June 2016

Colombia

Colombia: Industrial production expands at faster pace in June

August 16, 2016

Industrial production rose 6.6% annually in June, which was up from May’s 4.5% increase. June’s reading reflected increases in 23 out of the 39 components of the index. A strong expansion in the petroleum and fuels component was largely behind June’s acceleration. Overall, the industrial sector has become more dynamic in recent months, largely due to the weakening of the Colombian peso.

The 12-month trend continued upwards as annual average growth in industrial production rose to 4.4% in June from 3.9% observed in May and marked the highest average growth rate since February 2012.

Panelists surveyed for this month’s LatinFocus report expect industrial production to expand 5.8% in 2016, which is unchanged from last month’s forecast. For 2017, the panel expects industrial production to increase 3.8%.


Author:, Economist

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