Colombia: Manufacturing PMI picks up in April
The Manufacturing Purchasing Managers’ Index (PMI)—produced by S&P Global and Davivienda—rose to a five-month high of 54.4 in April from March’s 52.1. As such, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in business conditions compared to the previous month.
April’s brisker improvement came on the back of robust underlying demand, which in turn led to a quicker production expansion, while new orders rose at the joint-strongest pace in over seven years in April. Moreover, employment levels rose in April, with job creation reaching the highest pace in eight months. That said, ongoing supply chain disruptions, raw material shortages and spiraling prices—exacerbated by the war in Ukraine—led to heightened cost pressures and the strongest inflation rate since November 2021.