Colombia PMI January 2019

Colombia

Colombia: Manufacturing PMI nosedives at the outset of the year

February 1, 2019

Colombia’s manufacturing sector slammed the brakes in January, on the heels of a five-month slump. The seasonally-adjusted Davivienda manufacturing Purchasing Managers Index (PMI) dropped 3.0 points to 48.5 in January, landing below critical 50-point threshold which signaled deterioration across the manufacturing sector.

January’s reading reflected an across-the-board slowdown as demand faltered, and appeared to be driven by a fall in both new orders and output. Employment and purchasing activity, both in turn, fell. As such, backlogs were roughly steady from a month earlier. Although firms were hit by transportation and import delays, optimism hit a four-month high on upbeat short-term prospects.

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 4.4% in 2019, which is unchanged from last month’s forecast. For 2020, panelists expect growth in fixed investment to decelerate to 3.9%.


Author:, Economist

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Colombia PMI January 2019

Note: Purchasing Managers’ Index. Readings above 50 indicate an expansion in business conditions while readings below 50 point to a contraction.
Source: Davivienda and IHS Markit.


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