Colombia PMI November 2021

Colombia

Colombia: Manufacturing PMI increases in November

December 1, 2021

The seasonally-adjusted Manufacturing Purchasing Managers' Index (PMI)—produced by IHS Markit and Davividenda—rose to 54.9 in November from October’s 54.0. As such, the index moved further above the 50-threshold, signaling a stronger improvement in business conditions compared to the previous month.

Despite November’s upturn, output expanded at a softer rate, owing to ongoing shipping container and raw material shortages. Sales increased as demand remained robust in November, although mounting price pressures capped the overall improvement. Meanwhile, employment levels rose at the quickest pace in three months. Turning to prices, continued supply chain bottlenecks, material shortages and higher transportation costs led to both input and output charges increasing at the strongest pace since current records began in April 2011. Lastly, firms remained optimistic in November over output for the next 12 months, although sentiment eased somewhat due to uncertainty over price pressures and input shortages.

Industrial production is seen growing 4.8% in 2022, which is up 0.1 percentage points from last month’s forecast. In 2023, our panel sees industrial production growth at 3.0%.


Author:, Junior Economist

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Colombia PMI November 2021 0

Note: Purchasing Managers’ Index. Readings above 50 indicate an overall increase compared to the previous month and readings below 50 an overall decrease.
Source: Davivienda and IHS Markit.


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