Colombia: Pace of industrial production contraction steepens in May
July 17, 2015
In May, industrial production contracted 3.9% over the same month of the previous year, which was a steeper contraction than the 3.3% drop recorded in April and largely undershot market expectations of a softer 1.9% decline. The print was the lowest in four months and reflected decreases in about half 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