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Colombia PMI November 2023

Colombia: Manufacturing activity worsens for seventh month running in November

The Davivienda Manufacturing Purchasing Managers’ Index (PMI) rose to 49.4 in November from October’s 48.1. November’s result marked the best reading since June, but still marked the seventh consecutive month of contraction. Consequently, the index moved closer to the 50.0 no-change threshold, signaling a softer deterioration in manufacturing sector operating conditions compared to the previous month.

Output and new orders declined for the seventh month running—albeit by less than in the prior month—and firms continued to trim their workforces. The manufacturing sector continues to be burdened by the highest interest rates since the 1990s. Adding to this drag, input costs and output charges rose for the first time in six months, and business sentiment declined.

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