Colombia’s industrial production, excluding coffee processing, expanded 2% year-on-year in November, led by surge in production of sugar and beverages, the national statistics department DANE said Tuesday.
Sugar refining and other sugarcane manufacturing expanded 42%, while output of beverages rose 24%, though pulp and paper contracted 13% and manufacturing of machinery and electric appliances declined 23%, DANE said.
The increase is the strongest since April 2008, when industrial output expanded 9.4% on year. Industrial output contracted 13% in November 2008.
The expansion is stronger than local brokerage Interbolsa expected. Interbolsa forecast a 0.6% increase.
Employment in the industrial sector fell 6.3% in November from the same month in 2008.
Industrial production in the first 11 months of the year contracted 5.9% compared to the same period in 2008, dragged down by two-digit contractions recorded in early 2008. (Inti Landauro / Dow Jones)
