Colombia PMI January 2021


Colombia: Manufacturing PMI jumps to a six-month high in January

February 1, 2021

The seasonally-adjusted Davivienda manufacturing Purchasing Managers’ Index (PMI) jumped to 53.3 in January from December’s 51.8, marking the highest reading since July 2020. As a result, the PMI moved further above the 50-threshold, indicating a stronger improvement of operating conditions in the manufacturing sector.

January’s upturn was chiefly driven by a significant expansion of new orders, which grew at the quickest pace in six years. Furthermore, output increased markedly, supported by machinery upgrades and new product releases. That said, employment levels declined for the first time in four months, amid lingering financial concerns. Lastly, despite easing, input cost inflation was still-elevated, largely owing to raw material scarcity, prompting firms to increase their selling prices, but only marginally.

Industrial production is seen growing 6.5% in 2021, which is up 1.1 percentage points from last month’s forecast. In 2022, our panel sees industrial production growth at 3.8%.


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Colombia PMI Chart

Colombia PMI January 2021

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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