Colombia: Industrial production remains steady in October
December 16, 2011
In October, industrial production (excluding coffee threshing) grew 5.0% over the same month last year, which was a notch below the revised 5.1% rise observed in September (previously reported: +5.2% year-on-year). The October outturn was mainly driven by strong growth in both the other manufactured transportation equipment and the production of fruits, vegetables and fats categories. According to the press release, 31 of the 48 components recorded gains in production A month-on-month analysis, however, does not corroborate the marginal deceleration seen in the annual figures, as industrial production expanded 0.3% over the previous month, which contrasted the 0.3% contraction recorded in September. As a result of the improved monthly reading, the trend continued to point upwards, with annual average growth in industrial production rising from 4.7% in September to 4.9% in October.