Colombia: Industrial production growth jumps to highest rate in almost two years
March 14, 2016
In February, industrial production rose 8.2% over the same month of the previous year, which marked an acceleration compared to the 7.6% increase recorded in January and marked the fastest growth rate since March 2014. The print reflected increases in 24 out of the 39 index’s sub-categories. The result mainly came on the back of increases in the hydrocarbon and hydrocarbon refining sector likely associated with the ramping up of production at the newly upgrade Cartagena Refinery.Panelists surveyed for this month’s LatinFocus report expect that industrial production will expand 5.0% in 2016, which is up 0.2 percentage points from last month’s forecast. For 2017, the panel expects industrial production to increase 4.2%.
Author: Robert Hill, Economist