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