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Colombia PMI October 2023

Colombia: Manufacturing activity shrinks again in October

The Davivienda Manufacturing Purchasing Managers’ Index (PMI) came in at 48.1 in October, up from September’s 47.8. As a result, the index remained below the 50.0 no-change threshold, signaling a continued deterioration in manufacturing-sector operating conditions from the previous month.

Output and new orders declined for the sixth month running, and firms continued to trim their workforces. The manufacturing sector continues to be weighed on by the highest interest rates since the 1990s. More positively, input costs and output charges eased for the fifth straight months, and business sentiment for output a year ahead remained optimistic.

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