Colombia Industry May 2018

Colombia

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.

Panelists surveyed for this month’s LatinFocus report expect industrial production to expand 2.4% in 2018, which is from last month’s forecast. For 2019, the panel expects industrial production to increase 2.7%.


Author:, Economist

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Colombia Industry May 2018

Note: Year-on-year changes of industrial production and annual average growth rate in %.
Source: Colombia National Statistical Institute (DANE) and FocusEconomics calculations.


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