Colombia: Industrial production rebounds mildly in July
September 20, 2013
In July, industrial production (excluding coffee threshing) rose 0.2% over the same month last year. This figure contrasts the 5.5% drop tallied in June and marks the first expansion in output in three months. The increase, however, was below the 0.7% rise LatinFocus Consensus Forecast panelists had expected. The monthly figure reflects increases in 23 of the 48 index's sub-categories, with production at oil refineries and other food output recording the largest gains.
Nevertheless, industrial output continued the downward trajectory that has been observed since the beginning of 2012 (excluding a brief uptick in April). Annual average variation in industrial production fell from minus 2.2% in June to minus 2.4% in July.
LatinFocus Consensus Forecast participants expect that industrial production will rise 0.1% in 2013, which is down 0.9 percentage points from last month's forecast. For 2014, the panel expects industrial production to expand 3.1%.