Colombia: Industrial production rebounds strongly in April
June 21, 2013
In April, industrial production (excluding coffee threshing) expanded the most in 20 months, jumping 8.4% over the same month last year. The reading contrasted the 11.7% fall recorded in March (previously reported: -11.4% year-on-year), which had marked the sharpest drop since April 2009. Moreover, the print overshot market expectations that had industrial production rising 4.3%. The monthly figure reflects increases in 36 out of the 48 sub-categories composing the index, with vehicles production as well as oil output recording the largest gains.
Building on the strong rebound, the trend now points upwards, with annual average variation in industrial production rising from minus 2.0% in March to minus 1.1% in April.
LatinFocus Consensus Forecast participants anticipate industrial production to rise 2.1% in 2013, which is down 0.4 percentage points from last month's forecast. For 2014, the panel expects industrial production to expand 3.7%.