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Colombia PMI June 2023

Colombia: Manufacturing PMI deteriorates slightly in June

The Davivienda and S&P Global Manufacturing Purchasing Managers’ Index (PMI) came in at 49.8 in June, marginally down from May’s 49.9. As a result, the index fell slightly further below the 50.0 no-change threshold, signaling a slightly sharper deterioration in manufacturing sector operating conditions compared to the previous month.

June’s mild deterioration was due to a slower rise in delivery times; longer delivery times boost the manufacturing PMI as they are normally correlated with higher demand. In contrast, the other components of the manufacturing PMI demonstrated improvements; employment, output and new orders contracted less than in the prior month. Adding to this more positive news, input costs fell for the first time in the survey’s 12-year history, and output prices fell for the first time in a decade. In addition, business confidence rose to a 10-month high.

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