Colombia Industry December 2018

Colombia

Colombia: Industrial productions contracts for the first time in nine months in December

February 14, 2019

According to data released by Colombia’s National Administrative Department of Statistics (DANE) on 14 February, the industrial sector contracted for the first time in nine months in December. Industrial output fell 0.8% over the same month of the previous year in December, contrasting a 4.7% year-on-year expansion in November.

Looking at a breakdown of the industrial activities, December’s contraction was underpinned by notable declines in the production of coking, oil refining and fuel blending; cloth making; and the manufacture of soaps and detergents, perfumes and headgear preparations.

Annual average growth in industrial production remained at 2.9% in December.

Panelists surveyed for this month’s LatinFocus report expect industrial production to expand 3.1% in 2019, which is down 0.1 percentage points from last month’s forecast. For 2020, the panel expects industrial production growth to accelerate slightly to 3.2%.


Author:, Economist

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Colombia Industry December 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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