Colombia’s industrial production and retail sales increased in April versus the same month last year in a sign the country is recovering from the global economic crisis, the government said on Friday.
Colombia has increased its forecast growth for this year to 3 percent from a previous target of 2.5 percent and saw growth of 4 percent for next year with inflation at 3 percent.
Industrial output increased 7.6 percent in April compared with April 2009 due to automotive industry, basic chemicals and plastics, the DANE statistics agency said. Production rose 6.4 percent in March from the same month last year.
Industrial production for the January to April period went up 4.7 percent versus the same period last year on basic chemicals and drinks.
Retail sales in April grew 7.9 percent compared with April 2009 on vehicles and motorcycles, information equipment and household goods, it said. Retail sales increased 9.3 percent in March versus the same period,
Between January and April, retail sales grew 7.6 percent versus the same period last year, the agency said.
Economic activity is picking up after dropping on the back of the global economic crisis, which hit exports and domestic demand in the coffee-exporting Andean nation. (Jaime Luis Acosta / Reuters)