Colombia PMI December 2020

Colombia

Colombia: Manufacturing PMI edges down in December, but remains in expansionary territory

January 4, 2021

The seasonally-adjusted Davivienda manufacturing Purchasing Managers’ Index (PMI) ticked down to 51.8 in December from November’s 52.1. As a result, the PMI landed above the 50-threshold, indicating an improvement of operating conditions in the manufacturing sector.

December’s result was largely attributed to an expansion in production and rising new orders, which grew at the fastest pace since July, amid improved demand conditions. Moreover, although softening from last month, employment rose for the third consecutive month in December, while manufacturers remained optimistic about the coming 12 months. Lastly, on the inflation front, input costs picked up again, largely owing to logistics disruptions and unfavorable foreign exchange movements, prompting firms to further increase their output charges.

Industrial production is seen growing 5.4% in 2021, which is up 0.1 percentage points from last month’s forecast. In 2022, our panel sees industrial production growth at 3.9%.


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Colombia PMI December 20 20

Note: Purchasing Managers’ Index. Readings above 50 indicate an overall increase compared to the previous month and readings below 50 an overall decrease.
Source: Davivienda and IHS Markit.


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