Colombia IHS Markit Manufacturing Index Rebounds in July

(Bloomberg) -- Amid global manufacturing turmoil, Colombia's industry rebounded in July to the fastest pace of growth this year.

The sector has been turbulent -- contracting during the first three months of the year -- positive in April and May before the contracting again in June.

The seasonally adjusted Davivienda Colombia Manufacturing Index rose to 51.5 in July -- matching the December 2018 pace.

“Factories in Colombia started the third quarter of 2019 on the right foot, lifting production, input purchasing and employment in response to renewed sales growth. Data for July are in stark contrast to June, when all of the aforementioned measures were in contraction territory,” said Pollyanna De Lima, economist at IHS Markit.

Output and new orders both increased by more than three-points, marking the sharpest increase for the two sectors in aggregate since February 2018. In 100 months of survey data, the two sectors together have only grown faster twice.

“The welcoming news compares with weaknesses in other fellow Latin American nations, with PMI data showing falling output across Brazil and Mexico,” De Lima said.

©2019 Bloomberg L.P.

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