Colombia: Manufacturing PMI increases in November
The seasonally-adjusted Davivienda manufacturing Purchasing Managers’ Index (PMI) came in at 52.1 in November, up from October’s 51.7. As a result, the PMI climbed further above the 50-threshold, indicating a greater improvement of operating conditions in the manufacturing sector.
November’s result was largely attributed to a quicker growth in new orders—the strongest in four months—amid the reopening of business and better demand conditions. Similarly, output grew solidly in the month, while employment increased at the fastest pace since January. That said, although manufacturers remained broadly optimistic for the coming 12 months, business confidence dropped to a three-month low due to uncertainty surrounding the pandemic and raw material shortages. Lastly, on the price front, input cost inflation jumped to a five-month high, prompting companies to raise their selling prices at the quickest pace in over three years.