Colombia Industry February 2019

Colombia

Colombia: Industrial production growth slows slightly in February

April 12, 2019

According to data released by Colombia’s National Administrative Department of Statistics (DANE) on 12 April, the industrial sector grew 2.8% over the same month of last year in February. This was slightly below the 3.0% year-on-year expansion recorded in January.

A breakdown of the industrial activities showed that February’s print reflected a swing to contraction in the preparation of sugar and panela, and the manufacture of basic chemical substances and their products. A fall in the output of coking, oil refining, and fuel blending was also behind the downturn, although the rate of contraction eased from the previous month.

Annual average growth in industrial production remained at 4.0% in February.

Panelists surveyed for this month’s LatinFocus report expect industrial production to expand 2.9% in 2019, which is down 0.1 percentage points from last month’s forecast. For 2020, the panel expects industrial production to also grow 3.0%.


Author:, Economist

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Colombia Industry February 2019 0

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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