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Colombia PMI April 2023

Colombia: Manufacturing PMI increases in April

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) came in at 52.6 in April, up from March’s 51.5. April’s result marked the best performance since September 2022. Consequently, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in manufacturing sector operating conditions compared to the previous month.

The manufacturing PMI rose as output and new orders rose the most in 10 months. Manufacturing firms hiked their prices at the lowest rate in 26 months, supporting demand, after input inflation plunged to a near 10-year low in the month. Stronger output led firms to increase their headcount by the most in 10 months.

Andrés Langebaek Rueda, Chief Economist Bolivar Group at Davivienda, said:

“The costs of inputs have been exerting less and less pressure [on manufacturing production] thanks to improvements in global logistics chains and the appreciation of the peso.”

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