Colombia: Industrial production records largest expansion in eight months in December
February 17, 2014
In December, industrial production (excluding coffee threshing) rose 1.5% over the same month of the previous year. This increase contrasted the 0.6% decline recorded in November and marked the largest expansion since April 2013. The expansion overshot the 0.7% increase that market analysts had expected. The monthly figure reflects an improvement in more than half of the index's sub-categories, with production of sugar, as well as precious metals and non-ferrous metals recording the largest expansions.
In the full year 2013, industrial production contracted 1.9%, which exceeded the 0.3% decline tallied in 2012 and marked the largest drop since 2009.
LatinFocus Consensus Forecast participants expect that industrial production will expand 2.8% in 2014, which is up 0.2 percentage points from last month's forecast. For 2015, the panel expects industrial production to increase 3.3%.