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Colombian retail and industry grew by double digits in June – AméricaEconomía

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The industry and retail trade in Colombia maintained double-digit increases during June, driven by domestic consumption amid the recovery of the local economy, the National Department of Statistics (DANE) reported on Friday.

Industrial production rose 12.3% in June, compared to the same month last year.

Industrial activity showed a normalization in its production after the rebound in May, when it shot up 46.2% year-on-year, explained by a lower statistical base from last year when there were a series of blockades and social protests that affected the economy.

The main increases in June occurred in the manufacture of beverages, the manufacture of clothing, the manufacture of soaps and detergents, as well as pharmaceutical products and non-metallic minerals for the construction sector.

“Evidently we have seen an increase in domestic demand for this type of product and in the particular case of clothing due to a dynamic of increased production to respond to exports,” said Julieth Solano, deputy director in charge of DANE, at a conference in press.

In the first half of the year, industrial production accumulated an increase of 17.3%, compared to the same period last year.

For its part, retail sales rebounded 17.2% in June, much more than the 4.6% reached in the same month of the previous year, although they were below the 34.8% increase in May, also for the statistical factor.

The increase in sales in the sixth month was driven by the commercial lines of fuels for motor vehicles, as well as by the promotions associated with the day without VAT.

Between January and June, retail sales accumulated an increase of 18.2%, compared to the increase of 2.9% in the same period of 2021.

According to a recent Reuters poll, Colombia’s economy would have expanded by 11.25% annually in the second half.

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