Colombia: Industrial production rises in November
January 21, 2011
In November, industrial production expanded 4.5% over the same month last year. This rise came in well above the revised 2.8% increase registered in October (previously reported: +2.7% year-on-year) and market expectations of a 2.6% expansion. The majority of industrial subsectors posted an increase in production, most notably automobile production and apparel manufacturing. Vehicle production surged 43.6% in annual terms (October: +33.8% yoy), while apparel manufacturing increased 33.3% (October: +13.3% yoy). Offsetting these increases, sugar refining contracted 37.1% in November. Due to the strong monthly result, annual average growth in industrial production continued its upward trend, rising from 4.2% in October to 4.5% in November.