Colombia Industry August 2018

Colombia

Colombia: Industrial production growth picks up in August

October 17, 2018

According to data released by Colombia’s National Administrative Department of Statistics (DANE) on 17 October, industrial production picked up slightly, growing 3.9% over the same month of the previous year in August. This follows a 3.5% year-on-year expansion in July.

A breakdown of the data showed that 25 out of the 39 industrial activities recorded an increase in production, while the remaining 14 categories saw reduced output. A strong rise in coking, oil refining and fuel blending drove the upturn in August, along with a double-digit rise in manufacture of basic chemical substances, and manufacture of metal products. Growth in these components were partially offset by a decline in clothes making; production of soaps and detergents, perfumes and toilet preparations; and basic iron and steel industries.

Annual average growth in industrial production rose to 1.6% in August from 1.1% in July.

Panelists surveyed for this month’s LatinFocus report expect industrial production to expand 2.6% in 2019, which is down 0.1 percentage points from last month’s forecast. For 2020, the panel expects industrial production growth to accelerate to 3.0%.


Author:, Economist

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Colombia Industry August 2018

Note: Year-on-year changes of industrial production and annual average growth rate in %.
Source: Colombia National Statistical Institute (DANE) and FocusEconomics calculations.


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