Colombia: Manufacturing PMI rises in November to 15-month high
Business conditions in Colombia’s manufacturing sector continued to improve in November. The seasonally-adjusted Davivienda manufacturing Purchasing Managers’ Index rose from 51.1 in October to 52.9 in November, thus marking the fifth consecutive month that the index remained above the critical 50-threshold separating expansion from contraction and the highest reading since August 2018.
November’s increase largely reflected faster expansions in sales and production. Favorable market conditions underpinned an increase in new orders, while sales rose at the quickest pace since September 2018. Moreover, output increased for the fifth month straight and at the fastest clip in 14 months, amid strong demand and a greater availability of raw materials. Consequently, firms also raised their staffing levels. On the price front, input cost inflation slowed to a seven-month low, albeit still remained elevated, while output prices increased at fastest pace in over two-and-a-half years. Lastly, business confidence remained upbeat, supported by prospects of more clients, infrastructure projects, and marketing efforts in the coming year.