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.
Author: Alexandros Petropoulos,