The industrial confidence indicator for Colombia fell to -4.3 in November 2025, a significant drop from October’s 4.9 and reaching its lowest point in eighteen months. This decline was mainly attributed to reduced production expectations for the coming quarter (-0.7, down from 22.2 in October) and a decrease in stock levels (-0.4 compared to 0.4 previously). Additionally, the current order volumes deteriorated further (-12.7 compared to -7.0). In contrast, the confidence indicator was at -2.8 during the same period last year.