Colombia IHS Markit Manufacturing Index Rebounds in July
(Bloomberg) -- Amid global manufacturing turmoil, Colombia'sindustry rebounded in July to the fastest pace of growth thisyear.
The sector has been turbulent -- contracting during the firstthree months of the year -- positive in April and May before thecontracting again in June.
The seasonally adjusted Davivienda Colombia Manufacturing Indexrose to 51.5 in July -- matching the December 2018 pace.
“Factories in Colombia started the third quarter of 2019 on theright foot, lifting production, input purchasing and employmentin response to renewed sales growth. Data for July are in starkcontrast to June, when all of the aforementioned measures werein contraction territory,” said Pollyanna De Lima, economist atIHS Markit.
Output and new orders both increased by more than three-points,marking the sharpest increase for the two sectors in aggregatesince February 2018. In 100 months of survey data, the twosectors together have only grown faster twice.
“The welcoming news compares with weaknesses in other fellowLatin American nations, with PMI data showing falling outputacross Brazil and Mexico,” De Lima said.
©2019 Bloomberg L.P.
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