Colombia: Industrial production growth weakens in September
November 14, 2018
According to data released by Colombia’s National Administrative Department of Statistics (DANE) on 14 November, the industrial sector grew at a weaker pace of 2.9% over the same month of the previous year in September, after expanding a revised 4.2% year-on-year in August (previously reported: +3.9% year-on-year).
Looking at a breakdown of the data showed that September’s weaker pace of expansion was due to a marked drop in the output of coking, oil refining and fuel blending, along with more modest downturns in the manufacture of basic chemical substances and their products, and manufacture of metal products.
Annual average growth in industrial production climbed to 2.0% in September, up from 1.5% in August.
Colombia Industrial Production Forecast
Panelists surveyed for this month’s LatinFocus report expect industrial production to expand 2.7% in 2019, which is up 0.1 percentage points from last month’s forecast. For 2020, the panel expects industrial production growth to accelerate to 3.3%.
Author: Nihad Ahmed, Economist