Colombia: Industrial production grows moderately in October
December 22, 2010
In October, industrial production added 2.7% over the same month last year, which came in slightly below the 2.9% increase observed in September. The majority of industrial subsectors registered an increase in production, most notably chemicals and motor vehicles. The automotive sector, which had been adversely affected last year by Venezuela's decision to cut its import quota for Colombian automobiles, expanded 33.8% in annual terms. Despite the moderate monthly result, annual average growth in industrial production continued its upward trend, rising from 3.6% in September to 4.2% in October.