Colombia: Pace of industrial production contraction softens in March
May 15, 2015
In March, industrial production contracted a mild 0.1% over the same month of the previous year, which was a softer contraction than the 1.3% drop recorded in February and largely overshot market expectations of a sharper 1.2% decline. The print reflected decreases in two-thirds of the index’s sub-categories. The contraction was very largely driven by a fall in petroleum-related industries.LatinFocus Consensus Forecast participants expect that industrial production will expand 2.2% in 2015, which is down 0.6 percentage points from last month’s forecast. For 2016, the panel expects industrial production to increase 3.1%.
Author: Eric Denis , Economist