Colombia: Industrial production slows in April
June 16, 2011
In April, industrial production expanded 2.0% over the same month last year, which was below the revised 5.4% growth observed in March (previously reported: +5.2% year-on-year). The April expansion was mainly driven by strong growth in the automobile industry (+27.2% yoy), which was partially offset by contractions in the production of both basic precious and non-ferrous metals (-34.2% yoy) and other food products (-11.3% yoy). A month-on-month analysis corroborates the deceleration seen in the annual figures, as industrial production contracted 8.7% over the previous month (March: +12.1% month-on-month). As a result, the trend slowed, with annual average growth in industrial production easing from 4.9% in March to 4.5% in April.