Colombia PMI July 2022

Colombia

Colombia: Manufacturing PMI records worst reading since June 2021 in July

August 1, 2022

The S&P Global Manufacturing Purchasing Managers' Index (PMI) came in at 49.5 in July, down from June's 55.7—the second-best reading on record. July's result marked the worst performance since June 2021, with the index dropping below the 50.0 no-change threshold, signaling a deterioration in business conditions from the previous month.

The decrease in the manufacturing PMI was due to contractions in output and new orders—the first in more than a year. An acceleration in input costs and uncertainty surrounding the policies of the new president Gustavo Petro weighed on new orders. This, in turn, led to a fall in output, employment and input stocks—the first such contractions in more than a year. Meanwhile, business confidence weakened from June due to political uncertainty, currency fluctuations and inflation expectations.

FocusEconomics Consensus Forecast panelists expect manufacturing output to expand 5.5% in 2022, which is down 0.1 percentage points from last month’s forecast. For 2023, panelists see manufacturing output growing 2.4%.


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Colombia PMI July 2022

Note: Seasonally-adjusted 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 S&P Global.


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