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.
Author: Nihad Ahmed, Economist