Colombia: Industrial production remains weak at the outset of 2012
March 23, 2012
In January, industrial production (excluding coffee threshing) expanded 2.4% over the same month last year. The reading was virtually unchanged from the 2.5% rise observed in December (previously reported: +2.4% year-on-year) but undershot market expectations of a 4.0% increase. The monthly figure reflected increases in 23 out of the 48 sub-sectors composing the index, with production of meat and fish products, clothing items as well as non-metallic minerals recording the largest gains. A month-on-month analysis does not corroborate the expansion seen in the annual figures, as industrial production plunged 9.26% over the previous month, which followed on the 6.30% decline recorded in December. Moreover, the trend continues to point down, with annual average variation in industrial production moderating from 4.9% in December to 4.6%.