Colombia PMI Industriale

The Davivienda Colombia Manufacturing PMI picked up to 52.3 in October 2024 from 48.1 in September, pointing to a renewed expansion in the country's factory activity after two straight months of declines. It was also the best reading since January this year, as companies scaled up production volumes and increased purchasing activity in response to a significant rise in new orders. Meanwhile, employment decreased further, but the latest fall was fractional and the slowest in the current four-month sequence of contraction. On the price front, cost pressures receded to their weakest since July but selling prices were raised to the greatest extent in nearly a year-and-a-half. Lastly, business optimism rose to an eight-month high, driven by pending contract authorizations, product diversification, increased investment, and expectations of improved economic conditions.