Davivienda Colombia Manufacturing PMI Rose in June

(Bloomberg) -- Colombia's manufacturing industry improved to thegreatest level in nearly two-and-a-half years in June. Theseasonally adjusted Davivienda Colombia Manufacturing PMI roseto 53.0 in June, up from 51.1 in May. The June figure was thehighest since January 2016.

New orders rose to a 21-month high on improved economicconditions and stronger demand.

“Growth of output, new orders and employment all gathered pace,driven by the ongoing strength of the domestic market,”Pollyanna De Lima, Principal Economist at IHS Markit, said inthe report.

In light of robust business conditions, manufacturers increasedhiring in June, with the job creation index quickening to thefastest level in nearly two-and-a-half years. Payrolls expandedfor the fifth month in a row after a year of soft employmentfigures.

Colombian manufacturers output prices rose at a soft pace asthey were reluctant to pass on higher input prices. Input costinflation accelerated to the highest level in eight months. Inparticular, manufacturers indicated having paid more forchemicals, metals, plastics and textiles.

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