Colombia’s industrial production increased 0.2 percent in July versus a year ago, the government said on Friday, the slowest monthly growth in output this year.
Colombia, Latin America’s No. 4 oil producer and a top global coal exporter, expects growth of 3.5 percent to 5.5 percent this year after managing just an 0.8 percent expansion last year as it was hit by the world financial crisis.
The Andean nation saw sugar milling and refining fall 30.9 percent, drinks drop 13.2 percent, tobacco sink 9.2 percent and iron and steel decline 2.7 percent in July versus the same month in 2009, the data showed.
Colombia’s economy grew 4.4 percent in the first quarter versus a year ago and analysts expect the country to post 5.42 percent in growth in the second quarter. [ID:nN24135960] [ID:nN17260303]
The manufacturing sector saw a 2 percent drop in sales in July versus the same period in 2009, DANE said.
Industrial output from January to July rose 4.9 percent compared with the same period last year mainly on growth in vehicles, basic chemicals and chemical products, the DANE statistics agency said in a statement.
Industrial output versus the same period last year grew 1.6 percent in January, 3.0 percent in February, 6.4 percent in March, 7.6 percent in April, 7.5 percent in May and 8.5 percent in June, according to government data.
Retail sales shot up 13.8 percent in July compared with July last year while in the January to July period, they increased 10.5 percent versus the same period last year.
Information equipment, household goods and vehicles and motorcycles lead retail sale growth in July compared with the same month last year, according to the agency. (Jack Kimball / Reuters)
