Colombia PMI October 2019

Colombia

Colombia: Manufacturing PMI edges up in October

November 1, 2019

Business conditions in Colombia’s manufacturing sector continued to improve in September. The seasonally-adjusted Davivienda manufacturing Purchasing Managers Index inched up from 50.9 in September to 51.1 in October, thus marking the fourth consecutive month that the index remains above the critical 50-threshold separating expansion from contraction.

Producers raised their output in October in light of increased new orders, which, in turn, led to a higher accumulation of backlogs of work. Firms responded by rising employment at the fastest pace in 11-months. On the price front, input cost inflation reached a 32-month high amid a sharp weakening of the peso, prompting producers to increase output prices to the greatest extent since February. All said, confidence remained above its long-run average as prospects of higher production in the coming months supported optimism.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 3.7% in 2020, which is down 0.2 percentage points from last month’s forecast. For 2020, panelists expect fixed investment to grow 3.5%.


Author:, Economist

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