Colombia: Decline in industrial activity softens in October
Industrial output contracted 2.7% in annual terms in October, dropping at a somewhat softer pace than September’s 2.9% decline. October’s weaker contraction was largely attributed to a softer drop in shoe manufacturing, as well as to rebounding output in sugar production. That said, October’s decline remained broad-based with 26 of 39 subsectors reporting falling output.
Meanwhile, the trend deteriorated further, with the annual average variation of industrial production coming in at minus 8.0% in October, down from September’s minus 7.6%.