Colombia: Manufacturing PMI improves in August
The S&P Global Manufacturing Purchasing Managers’ Index (PMI) rose to 52.4 in August from July’s 49.5. As a result, the index rose above the 50.0 no-change threshold, signaling an improvement in business conditions in the private sector from the previous month.
The rebound in the manufacturing PMI came as output and new orders returned to expansion, having contracted last month for the first time in more than a year. Hiring activity also resumed at an above-trend pace. The rebound in the PMI may reflect a slight easing of the uncertainty that arose following Gustavo Petro’s election as president on 19 June. That said, the business environment remained challenging due to continued series-high input inflation.