Colombia: Industrial production rebounds in November
According to data released by Colombia’s National Administrative Department of Statistics (DANE) on 18 January, industrial production rebounded in November following three consecutive months of contractions. Output in the industrial sector increased 0.3% over the same month of the previous year, contrasting October’s 0.3% year-on-year decline.
Looking at a breakdown of the sub-components, there was an expansion in 15 out of the total 39 industrial activities, which more than offset a contraction in the remaining sectors. The upturn was largely brought about by double-digit growth in basic industries of iron and steel, along with sectors manufacturing articles in leather and chemical substances. The turnaround in the headline figure was subdued, however, due to sizeable declines in the coffee threshing sector, basic industries of precious and non-ferrous metal, production of machinery, and manufacture of motor vehicles.
Annual average industrial production growth declined to minus 0.4% in November, down from a revised minus 0.3% in October (previously reported: -0.2%). This marks the lowest result since February 2014.