Sunday, 22 Apr 2018
Business

Government highlights slight upturn in manufacturing industry in February 2018

Economy Writing According to the DANE report, in February industrial production grew 1.5% against the behavior of a year ago and retail sales increased 5%.

They report slight growth in industrial production in February of this year.
The government highlighted the behavior of industrial production and retail sales of trade, according to figures revealed by the DANE. Although it is not a result of high growth, the Ministry of Commerce, Industry and Tourism noted that the manufacturing industry reported a good February after growing 1.5%, driven by the behavior of sectors such as coking and oil refining, manufacturing of beverages and meat processing and conservation.
The industry began 2018 two consecutive months of growth which, without a doubt, “is a positive signal that allows us to hope that this important line of our economy closes the year with good numbers”, said the Minister of Commerce, Industry and Tourism, María Lorena Gutiérrez.
Remember the press report that in the first two months of 2018, the production of the manufacturing industry increased 1.2%, while in the same period of a year ago it registered a 1.6% drop, according to the DANE figures .
The DANE figures show the sectors that helped the slight upturn in the manufacturing industry during February: manufacture of drugs, metal products, garment making, paper and cardboard manufacturing, body production and rubber goods manufacturing.
The ministry highlights that sales grew 5% in the retail sector. This dynamic was justified by an increased demand for food (food in general) and non-alcoholic beverages (9.2%), motor vehicles and motorcycles (12.2%) and computer and telecommunications equipment for personal or domestic use ( 22.7%), says the Ministry of Commerce report.
The Minister of Commerce stressed that “two consecutive months of recovery of retail trade allow us to project a year with good results. Thus, we will continue to stimulate other sectors of commerce so that their sales are increasing. ”
María Lorena Gutiérrez stressed that another fact that confirms this good dynamic is the volume of nominal sales of the department stores and hypermarkets in the country. In February 2018 they reached $ 4 billion and grew 8.1%.
The Minister of Finance, Mauricio Cárdenas, highlighted that 21 industrial sub-sectors of the 39 increased their real production. “This is good news for the Colombian industry, which is having a rebound led by exports and greater domestic demand,” the minister concluded.
The Ministry of Finance indicated that several key sectors in industrial activity showed changes in the trend of their annual growth. In particular, the clothing sector stands out, which grew 4.4% as of April 2016, when it grew 4.4%. Also, the production of beverages, which increased 4.9%, had its first growth, after contract for six consecutive months. Finally, the development of metal products had, in the first two months of 2018, its highest growth since the end of 2016.

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