According to the Colombian government, industrial production only increased 0.2 percent in July 2010 compared to July 2009, the slowest monthly output so far this year. Iron and steel production declined 2.7 percent year-on-year in July, and manufacturing sales dropped 2 percent compared to July 2009.
However, industrial output from January to July registered a 4.9 percent increase from the same period last year, mostly attributed to the growth in vehicles, basic chemicals and chemical products. According to government data, industrial output compared the same period last year grew 1.6 percent in January, 3.0 percent in February, 6.4 percent in March, 7.6 percent in April, 7.5 percent in May and 8.5 percent in June.
Retail sales were also up in July, by 13.8 percent compared to July 2009; the January-June period saw an increase of 10.5 percent year-on-year.
The nation still expects to grow 3.5-4.5 percent this year, which would be an improvement over the 0.8 percent expansion last year during the worldwide economic crisis.