Colombia: Industrial production contracts for second consecutive month
November 21, 2012
In September, industrial production (excluding coffee threshing) contracted 1.3% over the same month last year. The decline exceeded the revised 2.1% drop observed in August (previously reported: -1.9% year-on-year) and contrasted market expectations of a 0.8% rise. The monthly figure reflected contractions in 30 out of the 48 sub-sectors composing the index, with production of non-metallic minerals, oils as well as of paper products recording the largest losses. As a result of the September contraction, the trend continues to point downwards, with annual average variation in industrial production falling from 2.2% in August to 1.7%.