Colombia: Industrial production recovers in June
August 22, 2012
In June, industrial production (excluding coffee threshing) expanded 2.8% over the same month last year. The figure contrasted the revised 0.3% drop observed in May (previously reported: -0.2% year-on-year) and exceeded market expectations of a 0.1% rise. The reading marked the first increase in industrial output after three consecutive monthly declines and reflected expansions in 24 out of the 48 sub-sectors composing the index, with production of vehicles and of textiles recording the largest gains. As a result of the monthly increase, the trend stabilized this month, with annual average variation in industrial production remaining unchanged at May's 3.1%.