Colombia: Manufacturing PMI edges up in October
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.