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Colombia PMI March 2022

Colombia: Manufacturing conditions improve at marginally stronger pace in March

The Manufacturing Purchasing Managers’ Index (PMI)—produced by S&P Global and Davivienda—ticked up to 52.1 in March from February’s 52.0. As such, the index moved further above the 50-threshold, signaling a marginally stronger improvement in business conditions from the previous month.

March’s uptick came amid brisker output growth as consumer confidence strengthened and client demand firmed. This, coupled with the lifting of Covid-19 restrictions, led to a quick expansion in factory orders, although raw material scarcity capped the overall improvement. Turning to prices, a strong U.S. dollar, raw material shortages, constrained freight availability and the war in Ukraine all contributed to push prices up. Lastly, optimism among firms softened in March due to uncertainty over the 29 May elections, inflationary pressures and supply chain disruptions, although businesses still onboarded additional staff.

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