Colombian retail sales and industrial output each grew in October from the same month a year ago, but at a reduced pace from earlier in the year, according to government data out Monday.
Retail sales rose 6.1% in October from the same month of 2010, while industrial output climbed 5%, according to the government’s statistics institute, known as DANE.
Both figures suggest healthy activity in the sectors. But the October figures indicate growth is continuing to decelerate. In September, for example, retail sales jumped 8.1% on the year and manufacturing rose 5.2%, while August retail sales were up 9.7% on the year and industrial output was up 9.5%.
Colombia’s economy has fended off the global financial crisis in 2011 due to strong foreign investment and heavy consumer spending, and economists say gross domestic product growth could reach 6% for the full year. But the central bank has warned that growth is starting to taper off.
A breakdown of the retail sales figures for October shows auto sales rose a relatively modest 9.2% on the year, which is much less than in previous months.