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Colombia PMI June 2024

Colombia: Manufacturing PMI rises in June

The S&P Global Davivienda Colombia Manufacturing Purchasing Managers’ Index (PMI) improved to 49.8 in June from 49.6 in May. As a result, the index remained below the 50.0 no-change threshold, but signaled a softer deterioration in manufacturing-sector operating conditions compared to the previous month.

The latest PMI reading chiefly reflected a milder decline in new orders, which firms attributed to competitive pricing and marketing strategies. Moreover, there were renewed expansions in input buying and employment. That said, output contracted at a faster rate.

Regarding prices, input price pressures intensified, reflecting higher raw material and transport costs plus a weaker peso and additional tax burdens. As a result, selling prices rose for the first time in four months, though only mildly. Business sentiment remained positive but fell to a four-year low amid rising demand concerns.

Pollyanna De Lima, economics associate director at S&P Global Market Intelligence, commented:

“Until companies manage to shift unsold goods, it’s unlikely that a significant rise in production will be seen. Businesses sentiment towards growth prospects remained positive, but optimism was at its weakest degree for over four years, signalling potential delays to investment, expansion plans and meaningful hiring.”

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