Colombia: Industrial production slows markedly in May
July 12, 2018
According to data released by Colombia’s National Administrative Department of Statistics (DANE) on 12 July, the industrial sector slowed markedly in May, with output rising 2.9% over the same month of the previous year. This followed a 10.5% year-on-year expansion in industrial production in April.
A breakdown of the data showed that 30 out of the 39 industrial activities registered an increase in output, while the remaining nine categories recorded a contraction. Weaker growth in the manufacture of metal products; processing and preservation of meat, fish, crustaceans and molluscs; production of beverages; and manufacture of plastic products underpinned the downturn in the industrial sector. A swing to contraction in the manufacture of other chemical products; manufacture of non-metallic mineral products; and coking, oil refining and fuel mix also added to the slowdown in the headline figure.
Annual average growth in industrial production edged up to 1.0% in May, from 0.8% in April.
Author: Nihad Ahmed, Economist