Colombia: Industrial production growth accelerates in October
December 14, 2018
According to data released by Colombia’s National Administrative Department of Statistics (DANE) on 14 December, the industrial sector accelerated notably in October, growing 5.8% over the same month of the previous year. This was up from the 2.9% year-on-year expansion recorded in September.
A breakdown of the industrial activities showed that October’s upturn was thanks to a marked increase in the manufacture of pharmaceutical products and medicinal chemicals. A double-digit rise in the manufacture of plastic products also contributed to the improved result, along with more modest upturns in production of beverages, and coking, oil refining and fuel blending. Expansion in these categories more than offset a marked downturn in the manufacture of wood and its products.
Annual average growth in industrial production rose to 2.5% in October, from 2.0% in September.
Colombia Industrial Production Forecast
Panelists surveyed for this month’s LatinFocus report expect industrial production to expand 2.9% in 2019, which is up 0.2 percentage points from last month’s forecast. For 2020, the panel expects industrial production growth to accelerate to 3.2%.
Author: Nihad Ahmed, Economist