In January 2024, Colombia's industrial production data showed a significant improvement compared to the previous month. The industrial production indicator had previously dropped by 6.8% in December 2023 but in January 2024, it decreased by a smaller margin of 4.3%. Despite the decline, the latest figures indicate a positive trajectory for the country's industrial sector.
This change in industrial production was updated on March 15, 2024, with the comparison being made on a Year-over-Year basis. The Year-over-Year comparison helps give context to the month-to-month changes, showing whether the current performance is better or worse compared to the same month in the previous year. While the industrial production in Colombia still faced a decline, the improvement from the previous month is a positive sign for the country's economy. Investors and policymakers will be closely monitoring further developments to gauge the overall health of Colombia's industrial sector.
